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Marc Eric Selden
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Marc Selden’s Answers

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  • My dad was married on May 22nd 2009 and he passed two days later. Why does his 2 day wife get 80% of his estate?

    In my father's will he left everything to me and my two younger brothers. Why does his wife get 30% of our college funds? Why does she get 80% of his estate? Why does she get 100% of his 401k? This is what our probate lawyer tells us. Do you th...

    Marc’s Answer

    In New York, a surviving spouse has a statutory right of election against the assets of their deceased spouse of the greater of $50k or 1/3 of the net estate and includes testamentary subsitutes, unless the surviving spouse has waived this right. A Florida attorney could advise you on the Florida law.

    His wife may have been the designated beneficiary on your father's plan, and, if so, the Will does not govern the disposition of that asset, the beneficiary designation does.

    Please consult with an Estate Planning/Probate Attorney in the State your father resided in at the time of his death.

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  • Trust fund

    i am disabled and receive ssd upon the selling of my mom's i was wondering if i can set up a trust fund for myself for my future i really don't have any other family members. what is my best way to go?

    Marc’s Answer

    I am not sure I understand your question. Is Mom alive or has she passed away? Is Mom giving you the money now or are you receiving it on her death? SSD is not means based so your eligibility would not be effected by funds received from Mom. If you were receiving SSI, any funds received would jeopardize eligibility.

    You should consult with an attorney to go over all of the facts to determine what type of trust, if any, would be appropriate.

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