Losing a spouse, a life partner, is unimaginable. You are left facing grief and stress. Not to mention, endless questions. After all, there are legal matters to address on top of the emotional turmoil. Here are three critical questions to address in this situation.
What does the estate plan say?
You and your spouse may have prepared for this exact situation. If you created your estate plan together, it is possible that you planned for the property to transfer to the surviving spouse, perhaps in a living trust or by beneficiary designations.
Review the estate plan and your combined assets, even if you are familiar with them, to understand how you will move forward.
What are your rights?
It is critical to understand your rights whether or not there is an estate plan. For example, it is important to consider your rights regarding:
- Community property in California
- Joint tenancy or property ownership
- Rights to survivorship or transfer-on-death terms
These particular rights could mean assets can be passed to you without probate. It may help to consult a probate attorney to fully understand your rights in this situation.
What is the Spousal Property Petition?
It may also be helpful to be aware of the option to file the Spousal or Domestic Partner Property Petition. This petition allows you to request to have certain assets your spouse owned transferred to you without having to go through probate. Whether or not your loved one had a will, it might be necessary to file this form in some cases.
Dealing with the loss of a loved one is stressful enough. Managing the property you shared together is likely the last thing you want to do at this time. However, this is an important step to take in order to protect the wealth you built with your spouse, as well as your rights.