Monday, 27 October 2014

If a couple with assets (home, vehicles personal items) both die simutaniously and one has 5 children from a previous marriage and the other...

Question

If a couple with assets (home, vehicles personal items) both die simutaniously and one has 5 children from a previous marriage and the other 2 children from a previous marriage, who inherits what?



Answer

Barring any other factors, such as Pay on Death provisions on accounts or Transfer on Death Deed, there will most likely be a distribution amongst all of the children. This also assumes that the couple did not have a will which would provide for such an event.



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