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Which parent passed first?
Do you know if they owned all their assets jointly or did each parent own their own separate assets solely in their name?
Just a couple minutes while I type out a response please..
Ok, if mother passed and they owned most assets jointly, then anything jointly owned would pass instantly to father. Anything she owned solely would also go to husband as long as all the children were from the marriage.
Then when father passed, since there is no surviving spouse, the children inherit everything equally.
So if there are 3 children, each gets 1/3 of the estate after all bills and debts are paid. If there are children that are deceased, then their estate inherits their share. So if there are 4 children, 1 of which is deceased, then the 3 get 25% and the 1 deceased child's estate gets 25%.
They have to file a formal probate case in the local probate court to be appointed Administrator of the estate and then they would have the authority to take legal possession of all of the assets of the estate.