How the surviving spouse has title to the property will determine how he or she can pass the property in a will. If the surviving spouse owns the house in his or her own name, then he or she can leave it to whoever is stipulated in his or her will. Children, a local college, or a non-profit organization can all inherit property, so the surviving spouse should base his or her decision on factors such as personal values, the amount of estate assets, and family relationships. If the surviving spouse is not the sole owner of the property, or the property is in the name of a trust, then the trust document or state property laws will determine if the surviving spouse has the right to leave the property to someone. For example, if the house is owned in joint tenancy with right of survivorship with the children, then the property will pass to the children regardless of what is indicated in the surviving spouse's will. We would like your feedback on this Personal Finance Frequently Asked Question.

Browse related Faqs by tag: personal finance, estateplanning