Intestate

A person who dies without having made a will. The estate, in these circumstances, is divided according to the rules of intestacy. The division depends on the personal circumstances of the deceased.
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Definition

Intestate: A legal term referring to a person who dies without having made a legal will. When a person dies intestate, their estate is divided according to the rules of intestacy. These rules vary by jurisdiction but typically provide a hierarchy for how the deceased’s estate is distributed among surviving relatives.

Examples

  1. Example 1: John dies without a will. According to state intestacy laws, his estate is divided between his surviving spouse and children.
  2. Example 2: Mary, who has no surviving spouse or children, dies without a will. Her estate is transferred to her parents under the rules of intestacy in her jurisdiction.

Frequently Asked Questions

What happens if someone dies without a will?

If someone dies without a will, their estate is distributed according to the intestacy laws of their jurisdiction. Generally, the estate will first go to close relatives such as spouses, children, or parents.

Who inherits the estate if there is no surviving spouse or children?

If there is no surviving spouse or children, the estate is typically divided among more distant relatives like parents, siblings, or even aunts and uncles, depending on the jurisdiction’s laws.

What is a fixed statutory legacy?

A fixed statutory legacy is a portion of the estate that is automatically allocated to the surviving spouse or partner before the remainder of the estate is divided.

Can stepchildren inherit under intestacy rules?

Rules vary by jurisdiction, but typically only biological and legally adopted children are entitled to inherit under intestacy rules. Stepchildren usually do not have rights to the estate unless specifically mentioned in a will.

Does the estate go to the state if no relatives are found?

Yes, if no surviving relatives are found, the estate may escheat, or revert, to the state.

  1. Interest-in-Possession Trust: A type of trust where the beneficiary is entitled to income produced by the trust property for a specific period or for life.
  2. Probate: The judicial process through which a will is validated, and an estate is administered.
  3. Estate Planning: The process of arranging for the management and disposal of a person’s estate during their life and after death.
  4. Executor: A person appointed to administer the estate of a deceased person.
  5. Trustee: A person or entity that holds and manages assets in a trust for the benefit of beneficiaries.

Online References

  1. Nolo’s Guide to Intestacy
  2. American Bar Association’s Information on Dying Without a Will
  3. FindLaw on Intestacy

Suggested Books for Further Studies

  1. “The Executor’s Guide: Settling a Loved One’s Estate or Trust” by Mary Randolph J.D.
  2. “Nolo’s Essential Guide to Wills & Estates” by Denis Clifford Attorney
  3. “Beyond the Grave, Revised and Updated Edition: The Right Way and the Wrong Way of Leaving Money to Your Children (and Others)” by Gerald M. Condon

Accounting Basics: “Intestate” Fundamentals Quiz

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