A 10-Point Plan for (Without Being Overwhelmed)
Importance of Intestate Laws
Intestate law is applicable when a person dies without leaving behind a will for inheritance of 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. Intestate is a person who dies before preparing the will that indicates how his/her property should be shared to his/her closest people who are left behind. Intestate law outlines in order the hierarchy of the group of people who were close to the deceased and how the property will be distributed to them. The hierarchy is followed according to the relationship of the deceased with the people who stand to inherit the property. 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.
The first on the hierarchy is the spouse of the deceased who has the right to get a share of the estate if not all of it. The first inheritance of a spouse is an estate which was owned by the deceased. When there is no child in question, the estate of the deceased is entirely inherited by the spouse. It is important to understand that cohabitation partner and the common law marriage does not entitle a spouse to inheritance law. Read more about common marriage here.
Children follow the spouse on the hierarchy of the intestate law. In cases where there is no existing spouse, the estate is subdivided equally to all children. In case there is a spouse, the rules changes. The spouse is given a particular percentage of the estate depending on the size and the remaining is equally shared among the children. It should be noted clearly that if the deceased had only adopted children, the property is equally divided among them because adopted children are taken as biological children. The assets inherited by the children of the deceased can never be used to settle the debts of the deceased because children do not inherit their parent’s debts. It is the responsibility of the probate court to select the guardian who will take care of the children of the deceased.
Thirdly, on the intestate hierarchy are parents and siblings of the deceased. This hierarchy is arrived at if deceased did not leave behind children, spouse or grandchildren. 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.
However, if the above people are absent, then distant relatives are considered the right inheritors. Here are the list of is made up of distant relatives; uncles, aunts, cousins, and grandparents.
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