What happens when a person dies without a will?
If a person dies without leaving a will, it is referred to as dying "intestate." In this case, the distribution of the deceased's estate is governed by the intestacy laws of the state or country where they lived.
Dying without a will can lead to delays, potential family disputes, and outcomes that may not reflect the deceased's wishes. Therefore, creating a will is important for ensuring that one's estate is distributed according to personal preferences.
Here’s what typically happens:
-
Appointment of an Administrator: A court appoints an administrator to manage the estate. This person is often a close relative or someone eligible under state laws.
-
Payment of Debts and Taxes: The administrator is responsible for paying any outstanding debts, taxes, and expenses from the estate’s assets.
-
Distribution of Assets: The remaining assets are distributed according to intestacy laws. These laws vary by jurisdiction but generally follow a hierarchy:
- Spouse and Children: In many places, the estate is divided between the surviving spouse and children.
- Other Relatives: If there is no spouse or children, the estate may go to parents, siblings, or more distant relatives.
- Escheat: If no relatives can be found, the estate may escheat, or revert, to the state.
-
Exclusion of Non-relatives: Intestacy laws typically do not provide for non-relatives, friends, or charities to inherit, even if the deceased may have wished to leave something to them.
-End of Article-
Covet does not provide any legal, investment, accounting, financial, and/or tax advice. The Covet site includes access to software and self-help materials, which are not substitutes for the advice of an attorney, financial advisor and/or accountant.