7. Rights of Surviving Spouse Flashcards

1
Q

HOMESTEAD: exempt personal property:

A

Surviving spouse or kid are entitled to $20,000 worth of tangible personal property (e.g. furniture) two cars used as family car and all qualified tuition programs unless in each case these items were specifically devised to someone else. These items pass to the spouse or children free of creditors claims, and are not considered part of the intestate or elective shares.

If decedent was not survived by spouse or children no exempt personal property set aside is available and these items are subject to creditors claims.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

HOMESTEAD: Family Allowance

A

Up to $18,000 for support of surviving spouse or lineal heirs whom decedent was obligated to support or whom decedent was actually supporting. Purpose is to provide support while assets tied up in probate.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly