Question
Anna and Joel have been married for 10 years. Anna has two grown children from her first marriage and three young grandchildren. Anna owned a
Anna and Joel have been married for 10 years. Anna has two grown children from her first marriage and three young grandchildren. Anna owned a home she and Joel lived in. The home was worth $450,000 at the time of marriage. The house is now worth $550,000. Anna started a consulting business 7 years ago and it is now worth $150,000. She also increased her investment account from $40,000 to $250,000 over the last 10 years. Joel has net assets of $700,000 in his own name accumulated during the marriage. They did not have a pre-nupitual agreement.
Anna dies and in her will she leaves $95,000 to Joel and the rest of her estate is to be divided between her adult children.
Joel does not get along with her children and wants to look out for himself financially. Would Joel be better off claiming what he would be entitled to under family law, rather than accepting what he was left in the will? Why or why not? Show your calculations.
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