Tips of What Happens When Someone Dies Without a Will
Death as well as tax are the only certain things in the world. Irrespective of the fact that people pay taxes every year, they forget to plan for their own deaths. Maybe the major reason for this is the fear that people have over death. 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. Here are some tips of what happens when people die without writing a will.
The physical residence of people will determine what happens to their wealth when they die. Such a person is often termed to have died intestate. When this happens, their estates are usually left under the custody of a probate court. You should read more here to establish what the law states regarding this kind of property. You should note that all the laws governing such scenarios vary from one state to the other.
The place the deceased person lived will determine what happens to their possessions. The size of the estate left behind determines the severity of the law over this issue. Possessions which are worth low than $100,000 are categorized as small estates by law. This is a practical scenario that happens to senior people who may have sold all their wealth to cater for medical bills. Young people who die before accumulating much wealth also falls in this category. Under this circumstance, remaining members of the family are advised to file a declaration claiming this property for their own use. In case the deceased did not have any heir, the claimant is supposed to support his or her relationship through an affidavit. The entire process of dealing with cases of people who die and leave homes and other assets whose worth exceeds $100,000 becomes complex as explained on this website.
The third aspect to consider when a person dies without leaving behind any written will is considering the survivors. 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. Children may also be given the second chance of the spouse is not there. 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.
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