Dying intestate (without a valid will or estate plan) is unfortunately not an uncommon occurrence. When it does happen, dying in intestacy would leave the job of divvying the assets a decedent had left behind in the hands of the probate court; and without a proper map of a decedent’s wishes, their decisions are guided by the intestacy laws of the state where the decedent resided. This is anything but a lighthearted topic, but it is ultimately extremely important to discuss.
The Probate Process
When your estate moves to through probate, a legal process in which the court oversees the distribution of your assets, the government makes these decisions for you. This process can be considerably long—often taking months, or even years— and can create a dely in granting your loved ones what they are entitled to.
So, what does this process look like once broken down?
- If a will were to exist, it would first be validated. However, this is skipped if you pass intestate.
- An Executor or Administrator is appointed to manage the estate. The administrator’s responsibilities are similar to those of an executor (named in a will) but follow court’s decisions.
- The Administrator will then identify and value the deceased’s assets.
- If the decedent had any outstanding debts, taxes, and expenses, the estate first pays these off. This can include funeral expenses, medical bills, or estate taxes.
The Distribution of Assets
What remains will be distributed to legal heirs identified by the administrator and the probate court will determine who gets what. Due to their nature, some assets will pass directly through probate and onto beneficiaries, such as jointly owned property or accounts with beneficiaries.
The distribution of assets will then flow with the intestacy laws of the state the deceased resided in, following intestate succession. A surviving spouse and children are considered first in the hierarchy of intestate succession. Next to receive would be close relatives — parents, siblings, or extended family, in that order. If no family members of the deceased can be found, the deceased assets will likely escheat to the estate, meaning that the government would take ownership of their property.
The Problems of Dying Intestate
Given that personal wishes may not be carried out if one is to die intestate, several potential problems may arise. With no guidance available from the decedent the probate process could delay the distribution of assets, and probate and legal fees may deplete the estate’s value. Dying intestate can also give way to familial disputes as intestacy laws don’t account for personal relationships or individual preferences of the descendent. This can also mean that assets can be distributed to unintended heirs of the decedent (estranged or unintended relatives) if they fall under the state’s laws.
Contact Us Today
It is always important to get ahead of problems before they arise. Not creating an Estate Plan is the one of the biggest mistakes someone can make when planning out their future, and that of their family. Being proactive can help to avoid much of the complexity and emotions that arise in a person’s passing and ensures your final wishes are adhered to.
Don’t leave your estate to be determined by intestacy laws—take control today. If you have questions about estate administration, probate, or creating a will, our team is here to help. Contact us for expert guidance on securing your legacy. Reach out today to start your estate planning journey with confidence!