Deceased father (2 yrs ago) of 2 adult children & 2nd marriage of 7 yrs to wife #2. Estate value $1,500,000 plus.

Asked over 3 years ago - Las Vegas, NV

Much of the $$$'s was family money & in MN LLC's. Can you advise the probable outcome of this estate? Deceased passed without will!

Attorney answers (1)

  1. Jonathan Craig Reed

    Pro

    Contributor Level 16

    Answered . If you are asking what happens if a person dies without a will and leaves a spouse and two adult children (and no predeceased children with their own surviving children), the answer is that under Nevada law the estate will pass 1/3 to each party subject to a number of "ifs."

    The major "if" is that if property is in some form that automatically passes upon death to someone else it is outside the probate estate. So, for example, a joint bank account or a home owned as joint tenants passes to the other joint owner automatically.

    You specifically ask about Minnesota LLC's. If your father was the sole owner of the LLC, the LLC should have to go thru probate subject to the 3 way distribution. Now, if the LLC is holding Minnesota real estate, we may be talking about a Minnesota probate subject to the laws of Minnesota for property passing without a will. I'd need more details about the LLC.

    Another big "if" is if Wife #2 can claim that some of your father's estate, even if in his sole name, is really community property.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

31,800 answers this week

3,283 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

31,800 answers this week

3,283 attorneys answering