Of course, all of these fees are tax deductible expenses and are paid from the estate assets. We feel that the prompt, accurate and courteous settlement of an estate will not only provide a necessary function required by our laws, but will also relieve the family and close friends of unnecessary worry and demands. While the statutory provisions are intended to provide a fair disposition of assets, serious inequities can result. Decedent is survived by spouse with no surviving descendants but one or more of the decedent's parents is living. The balance of the decedent's property would pass to his parents.
Decedent leaves surviving spouse and one child.
If the child is a minor, his share of the estate would necessarily be held by a court-appointed guardian who would be required to file annual accounts with the probate court and who would not be permitted to disburse principal required for the child's support and education unless it could be shown that these surviving spouse lacked separate assets sufficient to provide for such support. The decedent leaves a surviving spouse survived by two or more children. The surviving spouse then receives one-third of the remaining personal property. The balance of real and personal property is then divided equally among the children If there is neither a surviving spouse nor descendants. If there is neither a surviving spouse, descendants, nor living parents.