According to the ancient sayings, death, and tax are the old two things which are certain. Despite the fact that taxes are paid annually, a majority of people fail to plan themselves well. The fear for death can be a major reason for unpreparedness. If you continue reading here, you will unearth what a field survey has come up with for a large number of Americans who die without even an estate planning. After their deaths, their properties are left without no sense of direction. The following hints reveals what happens to people when they die without writing a 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. You must, however, take note that laws taking care of such cases varies from one state to the other.
The next hint that dictates what happens when people die without leaving a will depends on where he or she lived. The size of the possessions left behind will determine the severity of the law. For example, small estates fall in the category of people who died without any property and their total possessions is usually less than $100,000. This is a practical scenario that happens to senior people who may have sold all their wealth to cater for medical bills. Similarly, this case may apply to a young citizen who may have not accumulated enough wealth before passing away. Under this circumstance, remaining members of the family are advised to file a declaration claiming this property for their own use. In instances where the deceased left no heir, claimants must support their relationships via an affidavit. The process of dealing with cases of people who pass away and leave homes and other assets whose worth exceeds $100,000 becomes complex as explained on this website.
The survivors are another determinant of what happens when a person dies without a will. Laws governing such cases will be determined depending on whether the person left behind a wife, domestic partner or a number of surviving children. What is usually used here to subdivide this property is the law of hierarchy. The first person that can be considered is the spouse. If the spouse is not there, children will take over the property and so forth. You can discover more here about the law and how it applies to the deceased’s relationship hierarchy. You may continue reading here and learn more.