Most people in the country don’t have a valid will in place, which sets up where their possessions must pass or who must manage their affairs when they die. Although there are some benefits to preparing a will, dying without one is common. If you die without a will, it means you die intestate. In Tennessee, intestacy laws designate where your assets must go when you die intestate. Such laws instruct the court to supervise the division of your estate to heirs. Keep reading to learn more about this matter:
Is Probate Necessary If You Die Intestate?
If you die without a will, your estate goes through the probate process. The probate court manages your estate in the same way you would handle it if you had a will in place. The main difference is that your will instructs where your assets must go instead of the intestacy statutes. Also, dying without a will means no executor is appointed. Instead, an estate administrator can be appointed by the court, if an heir at law petitions it. This administrator will carry out a lot of the same functions an executor does such as paying your debts and dividing the remaining assets. But again, the administrator should distribute your assets based on intestacy laws.
Who Recovers If You Die Intestate?
The intestacy laws designate the heirs at law and the percentage of your estate every person gets. Your spouse and kids are offered first priority. Should you pass away without kids, your spouse will get either 1/3 of your estate or the share of a child of your estate. Thus, if you only leave one child, your spouse and child would get equal shares of your estate.
If you die without a spouse, your kids are given first priority. Every child gets an equal share. If you die without a spouse or children, your parents will recover in equal shares. If you pass away without surviving parents, your estate will be distributed among your siblings. From here, division is made among your grandparents if you do not have other remaining living heirs.
If you are ready to draft a will, contact a skilled attorney as soon as possible. Your attorney can answer questions about your estate and beneficiaries. Also, they can educate you more about the importance of having a valid will in place and what to expect if you do not have one.
In the event of someone dying intestate (without a valid will), the law dictates who inherits their property. This process is known as intestate succession. The specific beneficiaries and the amount they inherit depend on the deceased’s familial relationships and the laws of the state where they resided.
Here’s a breakdown of who recovers if you die intestate:
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Spouse: In most states, the surviving spouse inherits a significant portion of the estate, often the entire estate if there are no surviving children. The exact share can vary depending on the state and whether there are any surviving parents or siblings of the deceased.
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Children: If there’s a surviving spouse and children, the estate might be divided between them, with the spouse receiving a specific portion (e.g., one-third) and the children inheriting the remaining share (e.g., two-thirds) divided equally among them.
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Descendants of Deceased Children: If a child of the deceased predeceased them (passed away before the intestate), their surviving children (grandchildren of the deceased) might inherit the share that their parent would have received if they were alive.
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Parents: If there’s no surviving spouse or children, the parents of the deceased might inherit the entire estate or a significant portion of it.
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Siblings: If there’s no surviving spouse, children, or parents, the siblings of the deceased might inherit the entire estate or a portion of it, depending on the state’s intestate succession laws. The inheritance might be divided equally among siblings or follow a specific order (e.g., full siblings inheriting before half-siblings).
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Other Relatives: In some cases, if there are no close relatives like a spouse, children, parents, or siblings, the inheritance might pass to more distant relatives like aunts, uncles, or cousins. The specific order and inheritance percentages will depend on the state’s intestate succession laws.
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Escheat to the State: If the deceased has no living relatives who qualify for inheritance under intestate succession laws, the estate might escheat to the state. This means the state becomes the beneficiary of the property.
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