What Happens If Someone Dies Without a Will
According to the ancient sayings, death, and tax are the old two things which are certain. Although we pay taxes annually, many people fail to plan for their deaths. The fear for death can be a major reason for unpreparedness. Here is a survey that reveals that a large population of Americans dies without planning for even their estate. After their deaths, their properties are left without no sense of direction. The following hints reveals what happens to people when they die without writing a will.
The physical residence of people will determine what happens to their wealth when they die. When such a person dies, he will be termed as an intestate. When this happens, their estates are usually left under the custody of a probate court. You should read more here to establish what the law states regarding this kind of property. Laws governing such cases varies from one state to the other.
The place the deceased person lived will determine what happens to their possessions. The severity of the law of such a case is depended on the amount of possession left behind. Possessions which are worth low than $100,000 are categorized as small estates by law. This is the case to senior people who could have sold all their wealth because of medical issues. A similar scenario is also true to a young citizen who may have not accumulated any wealth. It is essential to note that law is clear that the remaining family members file a declaration claiming this property for use. The claimant of the deceased’s possession is supposed to produce an affidavit that states their relationship before they can access the property for use. This website explains the process of dealing with cases of people who pass away and leave homes and other assets whose worth exceeds $100,000 becomes complex.
The third aspect to consider when a person dies without leaving behind any written will is considering the survivors. The legal procedures which are applied here will be determined based on whether the person left behind a wife, domestic partner or a number of surviving children. The law will use a relationship hierarchy to sub-divide the possessions. In short, the entire property will be handed over to the spouse. If the spouse is not there, children will take over the property and so forth. You can discover more about the relationship hierarchy if you continue following our daily posts on this topic. You can learn more on this subject by reading here.