It will depend on the specific jurisdiction. If the child was a minor, yes, the parents get the property. If they were an adult, their spouse and children would get it. And the will trumps any intestacy laws.
Wealth is created by funneling the resources that should belong to everyone, such as money and property, into the hands of an
Generally, inherited property is separate property in a community property state.
You can sell your real property if there is a conveyance title in someone else's name, but the money will not legally be yours. The money will belong to the person who has the title.
A joint bank account belongs to the surviving owner.
If the kids are earning money, the parents can do so. As long as the child is a minor, their earnings actually belong to the parents..
{| |- | No, they are not. Until they reach the age of 18 they are the responsibility of their parents. They cannot sign contracts and cannot own property. An employer is legally required to turn over any money the minor earns to the parents if the parents so request. |}
yes it did because the childrens parents wanted them to work and earn money so they can pay of debts and house bills.Because it was cheap, abundant, and there were no laws against it.
around £260,000
Generally no. In separate and community property states inherited property remains separate property as long as you take care to not co-mingle it with marital property. Don't use your spouse's money to renovate an inherited house. You should check with an attorney in your state who can review the situation and explain your options.
No; however, Medicaid may file a lien on the parents' property and/or an estate claim.
This property or money is referred to as "bond."
Children's trust funds are a great idea for parents and grandparents to start because of government incentives. In Canada, if someone puts in money into their child's trust fund, the government will also put money in there as well, so the money keeps growing and growing over time.