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Faizan
Where there's a will, there's a way for a probate court to ascertain who the deceased wanted to inherit her property. But when someone dies without leaving a valid will, her intentions die with her. In this case, state laws on intestate succession determine who gets what portion of her estate.
Wisdom of a Will
Many people prefer not to ponder their own death. When this reticence prevents someone from making a will, that person cedes control over the future of her property to the state in which she resides at death. When a person dies with a valid will, property passes to whomever she names in the document, whether friend, acquaintance or even beloved pet; without a will, her property passes to next of kin in an order determined by intestate statutes.
Passing Through Probate
Whether or not a person leaves a will, her estate generally passes through probate, a court-supervised process that winds up the affairs of a deceased. Once an interested person opens probate, the court appoints an administrator to gather assets, locate heirs and pay debts before disbursing the remaining estate property according to the terms of the state's intestate statute. State laws often put a surviving spouse first in line to be named administrator.
Intestate Succession
Persons who make a will in the United States have no obligation to bequeath property to a spouse or children. However, when someone dies without a will, state laws make her surviving spouse and children heirs to her estate. Intestate apportionment varies among states. Some states transfer the entire estate to a surviving spouse, while others divide the estate between a spouse and children. Other, more distant relatives inherit if the deceased left neither spouse nor children.
Simplified Probate Procedure
Some states allows heirs of smaller estates to transfer property to themselves without opening a probate case. In California, for example, if a deceased left $150,000 or less in personal property, like bank accounts or stocks, an heir can transfer the property to himself 40 days after the death simply by filing an affidavit with the probate court. Obtain an appropriate affidavit form from the probate court, your attorney or bank. In some cases, real estate can also be transferred without probate; in California, you may file a Petition to Determine Succession to Real Property in estates worth $150,000 or less.
Wisdom of a Will
Many people prefer not to ponder their own death. When this reticence prevents someone from making a will, that person cedes control over the future of her property to the state in which she resides at death. When a person dies with a valid will, property passes to whomever she names in the document, whether friend, acquaintance or even beloved pet; without a will, her property passes to next of kin in an order determined by intestate statutes.
Passing Through Probate
Whether or not a person leaves a will, her estate generally passes through probate, a court-supervised process that winds up the affairs of a deceased. Once an interested person opens probate, the court appoints an administrator to gather assets, locate heirs and pay debts before disbursing the remaining estate property according to the terms of the state's intestate statute. State laws often put a surviving spouse first in line to be named administrator.
Intestate Succession
Persons who make a will in the United States have no obligation to bequeath property to a spouse or children. However, when someone dies without a will, state laws make her surviving spouse and children heirs to her estate. Intestate apportionment varies among states. Some states transfer the entire estate to a surviving spouse, while others divide the estate between a spouse and children. Other, more distant relatives inherit if the deceased left neither spouse nor children.
Simplified Probate Procedure
Some states allows heirs of smaller estates to transfer property to themselves without opening a probate case. In California, for example, if a deceased left $150,000 or less in personal property, like bank accounts or stocks, an heir can transfer the property to himself 40 days after the death simply by filing an affidavit with the probate court. Obtain an appropriate affidavit form from the probate court, your attorney or bank. In some cases, real estate can also be transferred without probate; in California, you may file a Petition to Determine Succession to Real Property in estates worth $150,000 or less.
Posted in: Estate Laws
