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Seattle Scott
Seattle Scott, Lawyer
Category: Real Estate Law
Satisfied Customers: 961
Experience:  I have 25 years experience as a Washington State Real Estate Attorney
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I own my home & no longer have a mortgage. If I pass

Customer Question

I own my home & no longer have a mortgage. If I pass away, what will happen to my home, property, bank accounts, and investments. I am divorced & have a daughter.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Seattle Scott replied 1 year ago.

If you die without a will, all your assets will go to your daughter. If you named someone other than your daughter as the death beneficiary on any of your investment or deposit accounts, those accounts will go to the person named. Nothing will go to the state or be "lost".

Customer: replied 1 year ago.
Ok, thank you. I was worried because I don't have a will or power of attorney for anything. Is there a certain age for her to receive everything. She is a minor now.
Expert:  Seattle Scott replied 1 year ago.

She can't "own" anything until she is age 18. If you die, the court would appoint a guardian to take control of her inheritance. the guardian would charge a fee for this service until she is age 18. You could get a will for about $500 that leaves everything to your daughter in a trust until she is age 18, or age 25 for that matter and appoint a family member as the trustee. It will save money for you to have a will.

Customer: replied 1 year ago.
Ok, I will look into getting a will. What if I remarry. How will this change everything?
Expert:  Seattle Scott replied 1 year ago.

If you are married and die without a will, then your estate is slit 50/50 between your child and your spouse. If you marry but keep your premarital assets separate from those of your spouse then you can leave all your premarital assets by will, to your child.

Expert:  Seattle Scott replied 1 year ago.

This is Pennsylvania law.

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