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. Maybe the major reason for this is the fear that people have over death. According to a survey report here, majority of Americans do not plan for even their estate before death. After their deaths, their properties are left without no sense of direction. Here are some of the hints of what happens to the deceased when they don’t write their 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 state’s probate court will take charge of all the possessions of the deceased in case he or she left no will. 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 must, however, take note that laws taking care of such cases varies 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. Under this circumstance, remaining members of the family are advised to file a declaration claiming this property for their own 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. Laws governing such cases will be determined depending on whether the person left behind a wife, domestic partner or a number of surviving children. The law will use a relationship hierarchy to sub-divide the possessions. The spouse is the key person that can be considered to take all the property. If the spouse is not there, children will take over the property and so forth. You can discover more about the relationship hierarchy if you continue following our daily posts on this topic. It is essential to learn more about this topic if you continue reading here.