Practical and Helpful Tips:
Importance of Intestate Laws
It is important to understand that when a person dies intestate, the intestate law is used to find the appropriate inheritors of the deceased property. Intestacy is defined as the law that defines the rules of distributing the property of a deceased who did not leave a will for his/her property. Therefore when someone dies when he/she had not prepared a will of how the property will be divided into his/her closest people, then that person is said to die intestate. Intestate law lists the people who are entitled to property on inheritance of a deceased in case where a will was not drafted by the deceased. The intestate lists and the people who are entitled to inherit the property and at the same time defines how these people are related to the deceased. Per capita and per stripe are some of the tools that are employed during the division of the property of the deceased to the large numerous relatives. The tools are especially used when the number of descendants is large. The following are some of the hierarchy outlined by intestate law.
Spouse of the deceased is the first priority when the distribution of the property of the deceased is done and he/she is entitled to at least inherit an estate. The first inheritance of a spouse is an estate which was owned by the deceased. In the case where no child was left behind, the spouse is entitled to inherit the whole estate without caring if there are other relatives left behind. The spouse is only entitled to the inheritance of the deceased if he/she was legally married to the deceased. More about common law marriage click here.
Children are the second on the intestate hierarchy. In cases where there is no existing spouse, the estate is subdivided equally to all children. In case there is a spouse, the distribution rules changes. Depending on the size of the estate, a spouse is given a certain percentage of the estate and the remaining percentage distributed equally to all the children. It is important to know that deceased adopted children are taken as the biological children. Intestate clearly states that children will not inherit the debt left behind by their parent. In cases where a parent die intestate, the probate court takes the responsibility of choosing the right guardian for the small children.
The third on the intestate hierarchy are parents and siblings of the deceased person. In case there is no recognized spouse, children or grandchildren, parents, and sibling are considered to be suitable property inheritors. The property is handed over to the deceased’s parents and if there are no existing parents, then the property is equally divided among the siblings.
In case there is no record of the children, spouse, parents, sibling, then distant relatives automatically become the legal inheritors of the deceased’s property. Distant relatives include cousins, grandparents, aunts and uncles who may share the property equally among themselves.
More reading: https://sophiechapmanbh2g8.wixsite.com/willsguide