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Regular Contributor
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Some assets can be outside the scope of a will.  For example, property that is titled in 2 names, the survivor usually inherits.  Also, financial assets ( for example: life ins, 401k,  annuities)--where you have to name a beneficiary is outside the scope of a will and goes to the person named as the designated bene.  Whereas, jewelry,  household items, cash is included in the will--where the person is named and stated which item is theirs. ( For example:To my sister, Jane, I leave her my teapot collection.) 

 

Depending on the state, if you do NOT name your spouse in the will, they may only be entitled to a portion of the assets, not an automatic 100% like people think.

 

Typically, the spouse has "more" of a right to inherit than the children.   It is always best to see an estate/probate atty to know the laws and the proper way to get the assets to where you want them to go.

Honored Contributor
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While it seems a bid odd, perhaps things were given while she was alive, or perhaps she figured they were already financially well off. One post said W is planning to contest the will. For that reason, I wish N had specifically left both daughters an equal share of her estate (even 10% of her assets). I think then there would have been less reason for a legal battle. After all, it's not unusual for a spouse to inherit the bulk of an estate.

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@Tinkrbl44 wrote:

It is VERY common for someone to make a will and leave everything to the surviving spouse .... assuming that the surviving spouse will then modify their will to leave assets to the dead spouses' heirs when they pass.  Often two wills are prepared at the same time to ensure this.

 

According to a CPA and Estate Planner friend of mine, that is the idea, but it often doesn't play out that way.

 

After the funeral, the surviving spouse can immediately change their will and leave everything to someone else ... their kids, for example, and leave NOTHING to the deceased spouse's heirs.

 

According to my friend, this happens all the time .....


This might be State specific @Tinkrbl44 .  Maybe, I dunno.  It's going to be interesting to see how this plays out that's for sure.





A Negative Mind ~ Will give you a Negative Life
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Re: Naomi Judd's Will

[ Edited ]

@Forbidden Fruit wrote:

Some assets can be outside the scope of a will.  For example, property that is titled in 2 names, the survivor usually inherits.  Also, financial assets ( for example: life ins, 401k,  annuities)--where you have to name a beneficiary is outside the scope of a will and goes to the person named as the designated bene.  Whereas, jewelry,  household items, cash is included in the will--where the person is named and stated which item is theirs. ( For example:To my sister, Jane, I leave her my teapot collection.) 

 

Depending on the state, if you do NOT name your spouse in the will, they may only be entitled to a portion of the assets, not an automatic 100% like people think.

 

Typically, the spouse has "more" of a right to inherit than the children.   It is always best to see an estate/probate atty to know the laws and the proper way to get the assets to where you want them to go.


@Forbidden Fruit Yes, this was my thinking as well.  Spouse (in all states) is considered "next of kin."  This doesn't matter whether you have living children or parents ~ your spouse becomes your next of kin.  But you're right, suppose spouses were separated?  Does it mean spouse is automatically entitled to anything/everything?  Again I think it's State specific.

 

 





A Negative Mind ~ Will give you a Negative Life
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I have experience in estate planning.  I think the people who reported this are stirring the pot and likely trying to make money with the headlines.  As others mentioned, It is highly likely there are trusts set up that are private.  They are likely coordinated with beneficiary designations on IRA's and insurance policies.  Those would bypass the will.    Prenup agreements may also be impacted as well as trusts for grandchildren, etc.  The goal is to NOT have money pass through the Will which must be probated at significant cost when an estate is large.  Also, the mother may have already gifted money to children and grandchildren years ago.  There are so many options and someone with her money should have had good legal counsel.  I hope so.  I'm not geting caught up in the gossip.

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Registered: ‎09-04-2014

@gertrudecloset 

 

It is state specific.  Where I live, the spouse gets 1/3 of estate.  If spouse is mentioned and they do not get 1/3, then they can contest and only get up to 1/3 of the value of the estate.  There are no rules for the children.  So if your mom (in my state) wanted to leave 1/3 of her estate to your dad and the rest to her dog --she can.  Now, hopefully, she names the person who is going to take care of her dog.  It can be anybody--a cousin, co-worker or a waitress at a bar who made your mom really good bloody marys.

 

You can also put in a will that if anyone contests the will, they will be automatically disinherited.  I think if you are to disinherit someone, I think you should name them in the will and the reason why.  I have seen that too.  I know a family where the adult children bled the parents dry and when they died the estate went to a friend and they put in the will exactly why they didn't get anything. It was brutal but so were their children.

 

Sure, people can fight all they want about it but lawsuits drains the money from the estate and the lawyers make bank. Everyone is your friend until money is on the table,then watch out.

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Re: Naomi Judd's Will

[ Edited ]

@Tshirtgal wrote:

I have experience in estate planning.  I think the people who reported this are stirring the pot and likely trying to make money with the headlines.  As others mentioned, It is highly likely there are trusts set up that are private.  They are likely coordinated with beneficiary designations on IRA's and insurance policies.  Those would bypass the will.    Prenup agreements may also be impacted as well as trusts for grandchildren, etc.  The goal is to NOT have money pass through the Will which must be probated at significant cost when an estate is large.  Also, the mother may have already gifted money to children and grandchildren years ago.  There are so many options and someone with her money should have had good legal counsel.  I hope so.  I'm not geting caught up in the gossip.


You could be right.  However, the story is everywhere.  Who put this story out there?  What do the Judds have to gain by the public knowing about this?  

 

Why do you have to get "caught up" in anything?  This is a news story, it's about current events of a public figure just as much as it is about gossip.  

 

If this is not bothersome to her children, why are the contesting it @Tshirtgal ?  I don't understand your comments.  

 

Edit: I'm striking the comment about contesting because I don't see the story from a reliable source.





A Negative Mind ~ Will give you a Negative Life
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@Forbidden Fruit wrote:

@gertrudecloset 

 

It is state specific.  Where I live, the spouse gets 1/3 of estate.  If spouse is mentioned and they do not get 1/3, then they can contest and only get up to 1/3 of the value of the estate.  There are no rules for the children.  So if your mom (in my state) wanted to leave 1/3 of her estate to your dad and the rest to her dog --she can.  Now, hopefully, she names the person who is going to take care of her dog.  It can be anybody--a cousin, co-worker or a waitress at a bar who made your mom really good bloody marys.

 

You can also put in a will that if anyone contests the will, they will be automatically disinherited.  I think if you are to disinherit someone, I think you should name them in the will and the reason why.  I have seen that too.  I know a family where the adult children bled the parents dry and when they died the estate went to a friend and they put in the will exactly why they didn't get anything. It was brutal but so were their children.

 

Sure, people can fight all they want about it but lawsuits drains the money from the estate and the lawyers make bank. Everyone is your friend until money is on the table,then watch out.


@Forbidden Fruit Yes, there is also an issue of if the state you reside is a Community Property State too.  Rules are little different for those states.  It is a complicated subject matter that hopefully will be resolved satisfactorily for all involved.  Naomi was married to this man for 33 years.  That's a long time.  Apparently not the Judd sisters' dad, but I'm sure they had to have some sort of a decent relationship as adults.





A Negative Mind ~ Will give you a Negative Life
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Re: Naomi Judd's Will

[ Edited ]

@gertrudecloset wrote:

It has been reported that the late country music superstar didn't leave her two daughters Wynona or Ashley anything in her will.

 

The late country singer, appeared to cut her children out of her will ahead of her passing. The former nurse left her fortune to her husband, Larry Strickland, according to court documents obtained by Us.

 

“I nominate and appoint my spouse, Larry Strickland, as executor of my estate,” the document read. “In the event my spouse ceases or fails to serve, then I nominate and appoint my brother-in-law, Reginald Strickland and Daniel Kris Wiatr as co-executors. I direct that no bond shall be required of my executor.”

 

@gertrudecloset 

I'm not trying to argue, but this paragraph is appointing an executor - not barring her daughters from the assets of her estate.

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As I understand it, a spouse cannot be disinherited, but it doesn't mean that the spouse will inherit everything, unless no one else is mentioned in the Will or Trust.