A will is a legal document that is crucial for estate planning. With a will, a testator can designate who should benefit from the distribution of assets. Unfortunately, many people die without a will. This can make it difficult to settle an estate and distribute assets to family and friends.
When someone dies without a will, they are considered to have died intestate. This is a complicated, lengthy and possibly expensive process. Here is what you should know:
What happens during intestate?
There are several steps to settle an estate. The first, typically, is locating a will and submitting it to probate court. The executor of the estate is then responsible for distributing assets to beneficiaries during the probate process. Without a will, however, an estate is handled differently.
The state is typically responsible for managing the estate of the deceased during intestate. Since there is no will, the state will designate an executor of the estate, who then becomes responsible for settling the estate, including paying debts, contacting banks and locating and distributing assets.
While a will could name beneficiaries, there would be no list without a will. The executor is then responsible for identifying and locating heirs. An heir is commonly the closest relative to the deceased. In many cases, this can include the spouse, children, siblings, parents, etc. The distortion of assets can depend on the heir.
Can intestate be avoided?
Intestate often only happens if there is no valid will. A will could be invalid if there is evidence that it was created under duress or undue influence. A will could also be invalid if it is not properly signed or written under state laws. Legal guidance can help individuals draft a valid will for their estate plan.