When a person passes away, their estate is managed according to the last wishes left in their will. But what happens when someone passes away without a will?
Dying without a will is called intestacy. Intestacy can create a lot of difficulties for loved ones after a person passes away. Here is what you should know:
How does intestacy impact estate distribution?
A will is submitted to the probate court when a person passes away. Typically, the probate court appoints an executor of the estate. An executor is named in a will by the person who drafted the document. The role of executor is to pay debts and taxes and distribute assets to beneficiaries. However, this does not happen when there is no valid will.
If there is no valid will, the probate court may need to appoint an administrator. An administrator is responsible for managing the estate, much like an executor. Without a will, however, the administrator does not have a list of beneficiaries. Instead, the administrator may need to locate any heirs. An heir can include the decedent’s closest living relatives, such as a spouse, children or parents.
Who inherits from the estate often depends on the intestate succession order. For example, a spouse can inherit the entire estate if there are no children. Or, an estate may be divided between a spouse and any children.
How can you avoid intestacy?
One of the most common reasons why intestacy happens is that a person did not write a will. Writing a will that is not valid is another frequent cause of intestacy. Professional legal guidance can help people avoid intestacy and family disputes.