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. Here is a survey that reveals that a large population of Americans dies without planning for even their estate. 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 possessions of such a party is often left under the watch of a probate court. 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 should note that all the laws governing such scenarios vary 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. 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. 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. 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 can learn more on this subject by reading here.