The children are not happy because the home is the most valuable asset of the estate, and they want to sell it now. However,she is not really happy, because she knows she cannot afford to continue to live in the home, and would rather move near her own children, but if she did, she would have no place of her own to live. The second wife claims a one-year family allowance, and the right to live in the man’s spacious and valuable home until she dies. His will leaves everything to his children. There are few ills a properly drafted FSA cannot cure.įor instance, suppose a man dies with a second wife, but with children from his first wife. In other cases, it is somewhat like a magic wand for resolving probate disputes. Oftentimes, an FSA is used to overcome the effects of a poorly drafted will. A Family Settlement Agreement (FSA) is the term used for an agreement reached by all of the heirs as to how an estate should be distributed.
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