Asset Descent and Distribution in Illinois
Saturday, July 18th, 2009 at 11:07 pm
Every state has its own descent and distribution law which applies if somebody passes away without a will (intestate). Generally in Illinois, half of the estate would pass to the surviving spouse and then the other half would be equally divided to the descendants (like children, etc).
For assets with named beneficiaries already or those titled jointly will not be part of the estate of a decedent spouse; therefore, these would pass directly to the beneficiary or joint tenant.
However, if there are assets titled only to one spouse, it could create a problem. For instance, your home (or any asset) was titled to your name only due to credit issues, or maybe you already owned the asset even before marriage, then the surviving spouse would only get half of your home and the other half would be inherited by the children.
If this is the case, the surviving spouse needs to get permission from the children before selling the house and would give half of the proceeds to the children after the sale. Typically, this is not what spouses would intend to do; however, if one of them dies without a will, then their intention will not be admissible in court.
Tags: beneficiaries, beneficiary, descendants, Illinois, intestate, law, will