Dying Without a Will in Montana
Married, No Living Children, Living Grandchildren from present and previous marriages,Situation #4 Example
Asset Value: $400,000
Example 4
Survivors are spouse and grandchildren from present and previous marriages.
Assume you pass away without a written will. You have assets valued at $400,000. Your surviving spouse receives $275,000. The first $150,000 of assets plus 1/2 the remaining balance. [$400,000 - $150,000 = $250,000; 1/2 of the remaining balance of $250,000 = $125,000; ($150,000 + $125,000 = $275,000)].
Your two grandchildren from your previous marriage and your one grandchild from your present marriage split the remaining balance of $125,000. Each of the three grandchildren receives $41,668.67. ($400,000 - $275,000 = $125,000 ÷ 3 = $41,666.67).
Your spouse may also have a right to the elective share, the homestead allowance, exempt 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
To explore another family situation, follow this link...