Family Law question Nancy and Silas have been married for 12 years. Silas has one adult child
Question:
Family Law question
Nancy and Silas have been married for 12 years. Silas has one adult child from a previous marriage. Nancy and Silas jointly own their home. The home was worth $500,000 when they bought it. The house is now worth $950,000 and there is a mortgage of $345,000. Silas started a consulting business 9 years ago and it is now worth $350,000. He also increased his investment account from $25,000 to $225,000 since they got married. Nancy has an additional net assets of $63,000 in her own name. They did not have a pre-nuptual agreement.
Silas dies and in his will he leaves $275,000 to Nancy and the rest of his estate to his son.
Nancy does not get along with Sila's son and wants to look out for herself financially. Would Nancy be better off claiming what she would be entitled to under family law, rather than accepting what she was left in the will? Why or why not? Show your calculations.