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In the state of Ohio, County of Montgomery the law concerning division of property in the death of a spouse when there are children from previous marriages is as follows: 1st 20,000 to spouse and rest of estate is split 50 - 50 between spouse and decedants children.
My question is what constitutes the "estate" of the deceased. Does it constitute all marital assets, both jointly and severly or is there a provision for premartial assets? For example we each have seperate accounts which primarly include our premarital assets, and we have joint accounts. Would the accounts that we have solely in our own names be part of the division listed above? |
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Community Property and Separate Property only come into play upon Death or Divorce. Meaning that when one spouse dies then the property is determined to be either separate or community. If you are living and your spouse dies since he predeceased you his estate would not include any of your separate assets.
Now the question becomes is it truly a separate asset. As long as the money in that asset involves no community property assets then it would not be part of the estate. ![]() |
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Thanks for the info.. I think I may be in the clear, seperate assets include, premarital, child support, 401K, and Social Security payments. I will be contacting a lawyer, but at least now I have something with which to work.
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