If my aunt died and left me a $50,000 CD, is her husband entitled to a portion of the money?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my aunt died and left me a $50,000 CD, is her husband entitled to a portion of the money?
Asked on December 18, 2012 under Estate Planning, Louisiana
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
Are you a named beneficiary of the CD? Or is this gift by a will? In the former case the proceeds of the CD is yours. In the case of the will, the provisions of the will will determine the ownership of the CD.
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
In Florida, your aunt's husband may be entitled to a portion of the CD proceeds, even if you are the only named beneficiary. Florida and many other states provide an "elective share" for the surviving spouse. This allows the spouse to "elect" to receive a portion of all the decedent's assets whether passed into the probate estate or through another means (like a named beneficiary). In Florida, the elective share is 30% of the assets. Exactly what the husband would receive depends on all of your aunt's property.
Louisiana has a different law system than most other states. It is a "civil law" jurisdiction that evolved from French law while most other states are "common law" jurisdictions that evolved from English law. You should consult a Louisiana estate attorney to advise you about the proceeds of this CD.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.