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Leaving Everything To Spouse In Will

Discussion in 'Money Matters' started by Rihana, Sep 18, 2020.

  1. Hopikrishnan

    Hopikrishnan Silver IL'ite

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    "Me and only me" is the cleverest choice a married man can make. LOL!! Live a Long, Healthy and joyful life.

    [Usually in such choices, there are contingent agents named. As in... Mrs. x will pull the plug, and if Mrs.X doesn't survive me, then my son Master X will do the deed, and if the Mrs. and Master X both do not survive me, then Brother Z will do it... and so forth.]
     
    Thyagarajan, joylokhi and Rihana like this.
  2. joylokhi

    joylokhi Platinum IL'ite

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    QUOTETaking some random numbers: husband and wife are of the same age; if the wife dies at 62, and the husband lives till 85, her share of their assets cannot be majorly distributed right after she dies. In other words, it is not ideal that at 62, he loses a spouse as well as a major portion of their assets (that go to adult children and others).UNQUOTE

    Here, I am not talking of the common assets to be handed over. Like in my personal case, I have some FDs and other bank accounts that are solely my savings that I would like my sibling to have after me, as he is not in a position to manage his own financial affairs, and i am helping him when I am alive. The common assets would automatically be divided among the spouse and children as their inheritance being legal heirs.
    Situations keep changing and its not always easy to ensure that even the will made actually gets implemented in the manner expected, but we can try to make things easy by a properly laid down clear will.
     
    Thyagarajan and Hopikrishnan like this.
  3. Thyagarajan

    Thyagarajan IL Hall of Fame

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    :hello:

    • A Will was made by a ripe old man that his pregnant grand daughter delivers a son then 2/3 rd of estate goes to her son and remaining 1/3 rd to be given to grand daughter.
    • If instead of son, grand daughter delivers a girl child, then 2/3rd of his estate would go to his grand daughter and remaining 1/3 rd share to be given to great grand daughter.
    Will is abundantly clear.

    Grand old man expires after which his grand daughter delivered healthy twins - a boy and a girl.

    As per above ‘will’, how the grand old man’s estate shall be divided between the twins and their mother?

    Thanks and Regards.

    God - even after deaths, mathematics division - mind boggling!
     
    Hopikrishnan likes this.
  4. Hopikrishnan

    Hopikrishnan Silver IL'ite

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    Grand daughter's share= 0.5* (1/3) for male child+0.5*(2/3) for female child = Half of the estate
    G'Grand Children's share = 2/6 for male child, 1/6 for female child = Half of the estate

    Any number of children of one or the other gender can be accommodated in the above calculations.
    Fuzzy "feature"s (such as the 3rd gender) can cause confusion to the Solomon in the court.
     

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