My question involves estate proceedings in the state of: Indiana
My dad and stepmom did a mutual will for a piece of real estate giving her a life estate to that property to live in it until she dies and then the entire property is to go to me. They sold that property and bought a new house and the deed in my dads name only. They did not changed the will and he passed away. My question is this: Am I correct in believing that the new house falls under intestate succession rules for Indiana since it is not in the will? Is that life estate language allowing her to live in the house that was sold transfer to the house under intestate succession? If it does and she wants to move out and sell the house, is there a value to the life estate and how is that calculated?
My dad and stepmom did a mutual will for a piece of real estate giving her a life estate to that property to live in it until she dies and then the entire property is to go to me. They sold that property and bought a new house and the deed in my dads name only. They did not changed the will and he passed away. My question is this: Am I correct in believing that the new house falls under intestate succession rules for Indiana since it is not in the will? Is that life estate language allowing her to live in the house that was sold transfer to the house under intestate succession? If it does and she wants to move out and sell the house, is there a value to the life estate and how is that calculated?
Estate Assets and Debts: When Does a Surviving Spouse Get a Life Estate in the Marital Home
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