Will My Son-in-law or Daughter-in-law Receive - Estate Planning FAQs

As one of the best estate planning law firms in Florida, we at the Law Offices of Mary E. King receive plenty of questions daily about various related subjects. Although many citizens are aware they need at least a will, they’re often unfamiliar with other legal instruments at their disposal, inheritance laws, or even tax matters surrounding estates. 

For instance, people often ask a hypothetical question “If my daughter died will my son-in-law inherit my estate”. Since there’s a lot of confusion floating around, here’s an article that will provide you with answers to common scenarios regarding estate planning.

Let’s go!

1. What’s An Estate?

An estate is considered to be all property owned by the decedent before being distributed by intestacy laws of the state, a will, or a trust. Estates may contain real estate and investment property, as well as personal property such as items, vehicles, bank accounts, or securities.

2. Why Is An Estate Plan Necessary?

Since estate planning arranges the transfer of an individual’s property after death, it allows individuals to decide who and to what extent will benefit from their estate. In addition, it also helps ensure that the estate is safeguarded from taxes imposed on the assets after death. 

3. Is A Will Legally Required?

In Florida, there are no laws compelling citizens to complete a will. Yet, doing so is often recommended by legal professionals. For starters, a will allows you to control the distribution of your assets after you pass away. This helps protect your interests and makes certain your assets aren’t subject to intestacy laws. 

It goes beyond financials, though. A will can also help you provide a plan for the care of minor children in the event of your untimely death. 

4. What Happens If Someone Passes Away Without A Will?

When someone dies without a will, they’ve died intestate. Since there are no instructions left by the decedent, the intestacy laws of the state will dictate how the assets will be distributed. 

In Florida, the first to inherit assets is the surviving spouse, followed by children. If the decedent passed away unmarried and had no children, their parents would inherit the estate. If the parents aren’t alive, then the siblings of the deceased will divide the estate equally. 

5. If My Daughter Died Will My Son-In-Law Inherit My Estate?

It depends. If you died first and your daughter inherited a portion of your estate, it’s considered her property. If your daughter then dies intestate, your son-in-law will inherit a portion of the daughter’s estate. 

The answer to “if my daughter died will my son-in-law inherit my estate” also depends on who passed first. If your daughter died before you, she didn’t receive a part of your state. After you pass away, your assets will go to your daughter’s children. Due to the intestacy laws, your son-in-law will be excluded from the estate, unless they inherit the same assets from your grandchildren. 

6. What Is Probate?

Probate is a legal process used to validate a will and appoint a personal representative tasked with administering the estate and distributing assets to beneficiaries. In most cases, probate is time-consuming and expensive.

7. Can You Avoid Probate?

As we already said, probate takes a long time to complete, which means your beneficiaries will have to wait a long time before they gain access to your assets. It’s in your and your beneficiaries' best interests to avoid probate. 

There are various methods of avoiding probate, with the most common ones being transferring property to a living trust or gifting some of your assets before death to minimize the amount of probatable estate. 

8. What Is A Trust?

A trust is a legal instrument with which you can transfer assets for your benefit while also providing a way to easily transfer the same assets to specified beneficiaries after you pass away. The assets in a trust are owned by the trust itself, and the trustee is appointed by the creator of the trust to manage the assets or oversee transfers in case of death or incapacitation.

9. What Are The Benefits Of Creating A Trust?

The primary benefit of creating a trust is that the assets contained within won’t go through probate. This means the administration of said assets can be achieved in record time and your beneficiaries won’t have to endure a lengthy probate process.

Additionally, you can use trust to improve your financial stability and provide a better outcome for your beneficiaries. For example, you can place the assets in investment accounts, which allows them to increase in value over time.

Trust also provides more privacy than a will. Information revealed during probate is publicly available, which may not be acceptable for you if you want your beneficiaries to retain a sense of privacy. 

10. Can The Terms Of The Trust Be Disputed?

The rules surrounding trusts are governed by state law and individuals who have a valid reason can dispute the trust. This is only available if the person can prove they have a standing to challenge the terms of the trust.

If an individual experiences (or could experience) direct harm in the event the trust was enforced as written, they have solid grounds for disputing the trust. For instance, if the wording of the trust implies all their children should receive assets, but a third child is later born who wasn’t named in the trust, this child has the right to dispute the terms. 

Also, trusts can be challenged on a technical basis. Since there are rules surrounding the creation of the trust, if one of the beneficiaries has proof that it was created under duress, they can challenge the trust. 

Create An Effective Estate Plan

An estate plan is crucial for making sure your assets go to the right person and preserve the maximum amount of your estate. With a solid estate plan in place, you can protect your interests and improve your family’s financial security when you’re no longer able to do so. 

To create an effective estate plan, get in touch with experts at the Law Offices of Mary E. King by calling 941-906-7585 or filling out our contact form. We’ll review your financial and personal situation,then figure out the right strategy to preserve your assets and protect your family’s interests.

Note: 

The information in this blog post is for reference only and not legal advice. As such, you should not make legal decisions based on the information in this blog post. Moreover, there is no lawyer-client relationship resulting from this blog post, nor should any such relationship be implied. If you need legal counsel, please consult a lawyer licensed to practice in your jurisdiction.