When it comes to adopted kids and inheritance, there tend to be a lot of questions asked. Many people may assume that the adopted child will not enjoy the same benefits of a biological child. Though that does make sense on the surface, it does not mean it’s true and valid.
If you are an adopted child and have questions regarding inheritance, here are some questions you should ask. Situations may differ from adopted child to adopted child. Not every child will have the same set of parents.
However, there will be common themes when it comes to inheritance and adopted children. Here are some common questions adopted children should look into.
1. Are adopted kids entitled to their adoptive parents’ assets?
The quick answer is yes. As long as you are legally adopted by your adoptive parents with all legal documents in place, you will be entitled to it. If you are not legally adopted by your adoptive parents, then you do not have any legal rights to lay claim to their assets when they have passed away.
If you so happened to live with a set of parents and not be legally adopted by them, then you do not have any legal rights to claim their assets. It is understandable that some children do not have favorable relationships with their biological parents. The kids may run off to live with another parent who may be in favorable terms with them.
However, the fact still stands – if you are not legally adopted by the adoptive parents, then you are not entitled to their legal assets. Even if they have passed away, their assets will be passed down to their kids. If they did not leave behind a will, then of course the assets will still go to their kids and not you.
The only time when the assets will go to you is when you are a named beneficiary in their will. Only then are you legally entitled to their assets?
2. How are adopted kids considered eligible for their share of the inheritance?
The most important thing for an adopted child to be considered eligible for their share of inheritance is by the legal adoption documents. If a child is not legally adopted with the legal documents to show, then the child is not legally adopted at all. Essentially, the child just so happens to be a favorite child of a couple, that’s all.
If the child is to inherit anything by the non-adoptive parents, the parents or couple will have to name the child as a beneficiary. Even then it can be contestable if the couple already has biological. There will be times when biological children will contest the will and not want the non-legal adoptive child to get anything.
3. Can an adopted child still get an inheritance from their biological parents?
When a child is adopted by another set of parents, the child’s legal rights to their biological parents will be terminated. That legal relationship will be transferred to their new adoptive parents instead. That is why adopted kids can and are able to inherit assets from their adopted parents.
However, sometimes some biological parents still wish to include their child in their lives. They do so by including them in their wills. That means their biological children will still be able to receive their portion of assets from them.
If the adopted child does not wish to claim the assets from their biological parents, they can choose to contest it. They can choose also to not accept their portion of the assets too.
4. What is the best way to protect the adopted child’s portion of the inheritance?
The best way to protect the child’s inheritance is to have the wills legalized by a lawyer. By keeping that will legal and updated regularly can prevent many hiccups from happening in the future. Make sure that all assets and properties are updated regularly and reviewed periodically.
Maintaining a current and clear will is paramount as anything can happen in the future. Get your family lawyer to review it regularly to see if there are no loopholes to your wills.
Key Takeaway
The bottom line is that adopted children can still inherit their fair share of assets from their adoptive parents. They can also receive assets from their biological parents if they are included or wish to.
If you need any help with inheritance wills for your adoptive children, feel free to contact us today. We will be very happy to assist.
