Death as well as tax are the only certain things in the world. Although we pay taxes annually, many people fail to plan for their deaths. Maybe the major reason for this is the fear that people have over death. According to a survey report here, majority of Americans do not plan for even their estate before death. The property will, therefore, be left without any sense of direction after death. Here are some of the hints of what happens to the deceased when they don’t write their will.
The physical residence of people will determine what happens to their wealth when they die. When such a person dies, he will be termed as an intestate. The state’s probate court will take charge of all the possessions of the deceased in case he or she left no will. It is essential to find out what the law states when the deceased’s properties are left without a will by taking time to read more here. Laws governing such cases varies from one state to the other.
The place the deceased person lived will determine what happens to their possessions. The severity of the law of such a case is depended on the amount of possession left behind. Possessions which are worth low than $100,000 are categorized as small estates by law. This is the case to senior people who could have sold all their wealth because of medical issues. Similarly, this case may apply to a young citizen who may have not accumulated enough wealth before passing away. The law requires that the remaining family members file a declaration claiming this property for use. In case the deceased did not have any heir, the claimant is supposed to support his or her relationship through an affidavit. This website explains the process of dealing with cases of people who pass away and leave homes and other assets whose worth exceeds $100,000 becomes complex.
The survivors are another determinant of what happens when a person dies without a will. The legal procedures which are applied here will be determined based on whether the person left behind a wife, domestic partner or a number of surviving children. The rule of hierarchy plays a vital role in sub-dividing this property. In short, the entire property will be handed over to the spouse. Absence of the spouse gives children a high chance of inheriting this property. You can discover more about the relationship hierarchy if you continue following our daily posts on this topic. You can learn more on this subject by reading here.