How much can grandchildren inherit?
How much can grandchildren inherit?
If you're like most people, you've probably got questions about how much your grandchildren can inherit from you if you pass away. For starters, there's the question of whether your grandchildren can inherit at all—generally speaking, if you are survived by a spouse, your children, and/or your other descendants (grandchildren), your grandchildren can't inherit from your estate directly.
Intestate
That doesn't mean they won't get anything out of it after you pass. If a parent dies intestate (without a will), the rules of intestacy will apply to their estate. The amount a grandchild can inherit depends on the relationship between that grandchild and the deceased parent; for example, whereas grandchildren would be entitled to nothing if their parents die intestate, they would be entitled to up to $300,000 if their parents die intestate and are survived only by one or more grandparents.
What is probate?
Nieces and nephews who are involved in helping to raise their grandchildren may be confused about what they can leave them in their wills. There is no limit to how much an adult can leave to a non-spouse minor child, but there is a limit on the amount that can be left in a will to minors who are not your children.
Inheritance
If you have minor grandchildren, their inheritance will pass through probate, just like anyone else's. The amount you can leave them depends on the value of the estate. If the value of your probate estate is less than $100,000, you can leave up to $20,000 to each grandchild without having to go through an informal or formal probate process.
Consult an attorney
If it is over $100,000, however, you have to file a petition for formal probate. You should consult with an attorney if you are planning on taking this action with your will because there are some other factors that come into play when leaving money to minors in a formal probate process.
Free Consultation
If you have questions, you can get a free consultation with the Best Probate Lawyers.
Parklin Law - Probate Lawyer
5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618-0699
