Massachusetts Instructions for Form (MPC 162) Surviving Spouse, Children, Heirs at Law is a form used by the surviving spouse, children, and heirs at law of a deceased Massachusetts resident to claim a portion of the decedent’s estate. This form is used to document the legal rights of the surviving family members to the deceased’s property. The form includes instructions on how to complete the form, as well as the necessary information and documents that need to be submitted with the form. The form must be signed by the surviving spouse and/or children and heirs at law of the deceased in order to be considered valid. The form consists of three main parts: Part A — Information on the Heirs; Part B – Information on the Estate; and Part — – Information on the Deceased. In Part A, the heirs provide their personal information, including names, addresses, and Social Security Numbers. In Part B, the heirs provide information on the estate, including the assets, debts, and taxes. In Part C, information on the deceased is provided, including the date of death, place of death, and applicable exemptions. There are two types of Massachusetts Instructions for Form (MPC 162) Surviving Spouse, Children, Heirs at Law: one for estates valued at $1 million or less, and one for estates valued at more than $1 million.
Massachusetts Instructions for Form (MPC 162) Surviving Spouse, Children, Heirs at Law
Description
Form popularity
FAQ
Your surviving spouse inherits everything. If you die with children or other descendants from you and the surviving spouse, and your surviving spouse has descendants from previous relationships. Your surviving spouse inherits $100,000 of your intestate property plus 1/2 of the balance.
What Is the Spousal Share? A surviving spouse in Massachusetts has a right to receive a certain amount of your estate no matter what your will says. If you and your spouse have children together, that is the first $25,000 in assets and a life interest or life estate in 1/3 of the remaining assets.
Your surviving spouse inherits everything. If you die with children or other descendants from you and the surviving spouse, and your surviving spouse has descendants from previous relationships. Your surviving spouse inherits $100,000 of your intestate property plus 1/2 of the balance.
Heirs at law are persons entitled to receive the Decedent's property under the intestacy succession laws if there is no will.
In general, the intestacy laws favor your closest family first, beginning with your spouse, then children if you are not married to their other parent, then parents, siblings, and sometimes even cousins.
When a married person has no children but does have living parents, both the spouse and parents are heirs. ing to MA Intestate Succession Laws, the spouse receives the first $200k of the estate and then 2/3 of remaining assets. The rest is inherited by the parents.
Assets inherited by one partner in a marriage can be considered separate and owned only by that partner. However, inheritances can be ruled as marital property jointly owned by both partners and, therefore, subject to division along more or less equal lines in the event of a divorce.
The Massachusetts estate tax exemption is $1 million. This means that if your estate is worth more than $1 million when you die, money will be owed to the state before it's disbursed to your heirs. However, if it's smaller than $1 million, then no state estate taxes will be owed.
