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Hypothetical Question Lang

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1 Hypothetical Question Lang on Tue Jan 13, 2015 2:07 pm

edwinic


Arresto Menor
Normal family with no huge conflict. Husband, wife and 3 adult offspring. No offspring outside marriage

Wife keeps all the money in her name, as agreed with husband.
All properties in the name of husband and wife.

In case the husband died, I understand that all the properties are divided legally among wife and offspring.
Question: What about the money in the bank? Are the offspring entitled to it?
Question: If the wife died, what is the division for money in the bank? Or is there such arrangement?

Thank you to those who will make an input to these questions.

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2 Re: Hypothetical Question Lang on Tue Jan 13, 2015 4:49 pm

concepab


Reclusion Perpetua
Q#1. Yes.
Q#2. All properties, money and what so ever will be divided equally.

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3 Re: Hypothetical Question Lang on Tue Jan 13, 2015 8:49 pm

edwinic


Arresto Menor
concepab, thank you.

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4 Re: Hypothetical Question Lang on Tue Jan 13, 2015 10:07 pm

centro


Reclusion Perpetua
Unless there is a last will and testament defining how the estate is to be shared.
Without a will and testament and without any debt, the recognized sharing is 50% for the surviving spouse, the balance 50% to be shared equally among the children and the spouse.

You may want to have this validated.

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5 Re: Hypothetical Question Lang on Tue Jan 13, 2015 10:16 pm

edwinic


Arresto Menor
Thank you centro.
I was concerned about the money in the bank, in the scenario that the wife would spend it for personal pleasure since the bank account is in her name. I thought that no one can stop her.

Now I realized that the offspring can do legal move to stop the drain.

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