What Happens If Someone Dies Without a Will
Death as well as tax are the only certain things in the world. Irrespective of the fact that people pay taxes every year, they forget to plan for their own deaths. The fear for death can be a major reason for unpreparedness. If you continue reading here, you will unearth what a field survey has come up with for a large number of Americans who die without even an estate planning. This means that their property will have no sense of direction in case they pass away unexpectedly. Here are some tips of what happens when people 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. The possessions of such a party is often left under the watch of a probate court. In case you read more here, you will understand what the law states about the possessions of properties left intestate. You should note that all the laws governing such scenarios vary from one state to the other.
The next hint that dictates what happens when people die without leaving a will depends on where he or she lived. 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. Young people who die before accumulating much wealth also falls in this category. Under this circumstance, remaining members of the family are advised to file a declaration claiming this property for their own use. In case the deceased did not have any heir, the claimant is supposed to support his or her relationship through an affidavit. 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 survivors are another determinant of what happens when a person dies without a will. In most cases, laws governing such cases will be determined depending on whether the person left behind a wife, domestic partner or a number of surviving children. The rule of hierarchy plays a vital role in sub-dividing this property. 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. It is essential to learn more about this topic if you continue reading here.