what happens to your money if you die without a will?
2007-06-11 06:44:09 · 9 answers · asked by charlotteprime02 1 in Politics & Government ➔ Law & Ethics
Somebody -- usually a person in line to receive money from the estate -- takes out letters of administration and then the estate is administered according to the rules of intestacy. Rather than spell it out myself, I'll refer you to a link which explains how it is done. http://209.85.165.104/search?q=cache:c4aWLW65Sj0J:www.cch-solicitors.com/wills/intest.htm+england+rules+of+intestacy&hl=en&ct=clnk&cd=3&gl=us
2007-06-11 08:16:16 · answer #1 · answered by Doethineb 7 · 1⤊ 0⤋
In the United States, most if not all states have statutes called "Laws of Intestacy", dying without a Will being called "Intestate".
The laws determine what happens to the property owned at death, and the estate is probated pretty much like an estate with a Will, except that the statutes are the Will.
There's no way to know precisely what happens in your case, as there are too many variables. Even ignoring the first variable, which is what state's laws will control, there are different results based on whether or not the deceased is married, has children, living parents, or if the estate is over a certain amount.
Everyone should familiarize themselves with their state's Intestacy statutes, and figure out what that will do to their own estate. If you don't like the result, get a Will.
2007-06-11 06:52:10 · answer #2 · answered by open4one 7 · 4⤊ 0⤋
Even with a will there are fights since some (as I have been involved in) people put together multiple wills and tell some relatives of one will and others of another. This needs to be cleaned up as the lawyers in this area can be worse than ambulance chasers as they take are the money in a will fight for themselves.
2007-06-11 07:37:07 · answer #3 · answered by ALASPADA 6 · 0⤊ 0⤋
It goes in equal shares to your nearest relatives. In my state, your spouse would take it all. If you do not have a spouse, it would go to your children. If one of your children is deceased, his/her child would take that share. If you have no children, it would go to your parents. If both your parents are deceased, it would go to your siblings. In other words, it follows your family line. However, this could be slightly different in your state. I think what I've told you is correct in every state. What may be different is that in my state, it follows your family line to even the most remote relative--like a 3rd cousin etc. I think--not sure---that in some states they quit follow the family line if the relatives are too remote in relationship and it goes to the state. In my state, it never goes to the government unless you have no relatives of any degree. I'm interested to see if anyone else has a different open on that aspect.
2007-06-11 06:53:27 · answer #4 · answered by David M 7 · 0⤊ 1⤋
If you have a spouse it goes to them. If not, ff you have children it goes to them. No children, it goes to your parents.
After that someone will have to put claim in against the estate. If there is no claim, eventually it goes to the government.
Make a will!!!
2007-06-11 06:51:59 · answer #5 · answered by Johnny 7 · 2⤊ 2⤋
it is shared between your family, brothers,sisters,kids, all the best
2007-06-11 08:06:34 · answer #6 · answered by sarah1962 5 · 0⤊ 0⤋
Your living relatives fight over it and sue each other
2007-06-11 06:50:48 · answer #7 · answered by Anonymous · 0⤊ 3⤋
make a will and make me beneficiary and you wont need to ask!
Otherwise i dont know really.
2007-06-11 06:50:04 · answer #8 · answered by the_tent_man36 4 · 0⤊ 3⤋
the state will take it
2007-06-11 06:52:00 · answer #9 · answered by porky 2 · 0⤊ 5⤋