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Things that Will Happen When Someone Dies without a Will
According to the old-time sayings, death, as well as tax, are the only things that are certain. Although we pay taxes annually, many people fail to plan for their deaths. Death is horrible that many people don’t even want to think of it. 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. The possessions of such a party is often left under the watch 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. 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. Young people who die before accumulating much wealth also falls in this category. The law requires that the remaining family members file a declaration claiming this property for use. The claimant of the deceased’s possession is supposed to produce an affidavit that states their relationship before they can access the property for use. 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.
Another hint of what happens when someone passes away without writing a will depends on their survivors. 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. What is usually used here to subdivide this property is the law of hierarchy. The spouse is the key person that can be considered to take all the property. 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.