According to the old-time sayings, death, as well as tax, are the only things that are certain. Despite the fact that taxes are paid annually, a majority of people fail to plan themselves well. Death is horrible that many people don’t even want to think of it. According to a survey report here, majority of Americans do not plan for even their estate before death. This means that their property will have no sense of direction in case they pass away unexpectedly. 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. In case you read more here, you will understand what the law states about the possessions of properties left intestate. Laws governing 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 estate left behind determines the severity of the law over this issue. For instance, small estates fall in the category of people who died without any property and their total possessions are usually less than $100,000. The scenario is true especially to senior people in the society who may have spent their possessions on medical bills. A similar scenario is also true to a young citizen who may have not accumulated any wealth. 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. 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 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 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 here about the law and how it applies to the deceased’s relationship hierarchy. You can learn more on this subject by reading here.