Importance of Intestate Laws
When a family member dies without a will, it is important to apply the intestacy laws. Intestacy is defined as the law that defines the rules of distributing the property of a deceased who did not leave a will for his/her property. Therefore when someone dies when he/she had not prepared a will of how the property will be divided into his/her closest people, then that person is said to die intestate. Intestate law outlines in order the hierarchy of the group of people who were close to the deceased and how the property will be distributed to them. The hierarchy is followed according to the relationship of the deceased with the people who stand to inherit the property. During the division of the property, two tools are used to divide the property which includes per stripe and per capita. The only time the per capita and the per stripe tools are used is when the property is divided to many people who are entitled to inheritance. The following hierarchy is clearly elaborated by the intestate law.
The first on the hierarchy is the spouse of the deceased who has the right to get a share of the estate if not all of it. A spouse can get a piece of estate or inherit the whole estate depending on whether the deceased left behind children. In the case where no child was left behind, the spouse is entitled to inherit the whole estate without caring if there are other relatives left behind. The spouse is only entitled to the inheritance of the deceased if he/she was legally married to the deceased. Click here for more info.
Children follow the spouse on the hierarchy of the intestate law. In cases where there is no existing spouse, the estate is subdivided equally to all children. In case there is a spouse, the distribution rules changes. Depending on the size of the estate, a spouse is given a certain percentage of the estate and the remaining percentage distributed equally to all the children. It is important to know that deceased adopted children are taken as the biological children. According to the intestate law, children are not supposed to inherit the debt of their deceased parent and therefore the assets inherited by the children cannot be used to settle the debts. The probate court under intestate law has the right to picking a suitable guardian for the deceased’s small kids.
Parents and siblings of the deceased are third on the intestate hierarchy. This hierarchy is arrived at if deceased did not leave behind children, spouse or grandchildren. On this level of the hierarchy, parents are given the first priority and if the parents are not around, siblings are then picked to be inheritors.
In case there is no record of the children, spouse, parents, sibling, then distant relatives automatically become the legal inheritors of the deceased’s property. Cousins, aunts, uncles, and grandparents are some of the distant relatives.
Featured post: hop over to this website