Asset Value:  $400,000

Fourteen Scenario

Example

Survivors are your spouse, your children from a previous marriage your spouse has adopted and your spouse's child whom you have not adopted.

Assume you pass away with assets valued at $400,000.

Your spouse receives a total of $312,500. Your spouse receives the first $225,000 plus 1/2 of the remaining balance. [$400,000 - $225,000 = $175,000; $225,000 + $87,500 (1/2 the remaining balance of $175,000) = $312,500].

Your two children from your previous marriage (that your spouse has adopted) equally split the remaining balance of $87,500. ($400,000 - $312,500 = $87,500 ÷ 2 = $43,750. Each child receives $43,750).

Your spouse may also have a right to the elective share,the homestead allowanceexempt property, and the family allowance which is protected from creditors.

If this is not the division you desire, then you need to write a will.

Montana State University Extension has additional information about estate planning. You may download and print out all MontGuides free at this site:  www.montana.edu/estateplanning/eppublications.html

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