When a person dies without a will, what happens to their money?

Answer 1

If a person does not have a will or has not adequately planned for the distribution of his or her estate at death, survivors can face a complicated, time-consuming, and costly process. Often survivors wind up having to pay more taxes on their inheritance than they would have paid had there been a will or other estate planning tool. To provide for surviving friends and relatives, or to support favorite causes or charities, a person can plan for the distribution of his or her estate after death. With planning, an estate can be distributed as fairly as possible with as little tax burden as legally allowed.

When a decedent leaves no will or fails to dispose of all property through a will, the decedent is said to have died Intestate. When a person dies intestate, the probate court steps in to divide the decedent's estate, according to a formula known as the state inheritance laws. Under the state inheritance laws, the probate court uses formulas set by the legislature to divide a deceased person's possessions among any surviving relatives. A probate court applying the state inheritance laws first deducts from the estate the funeral expenses and any unpaid medical bills up to five thousand dollars, allowances made to the surviving spouse and children, estate administration expenses, taxes, and other debts owed.

After all the claims against the estate are paid, and if the decedent has a surviving spouse and no children, the surviving spouse is entitled to all of the personal estate (all possessions other than land) and one-half of the real estate of the decedent. The other half of the real property goes to the decedent's parents or siblings and their descendants. If there are no surviving parents, siblings, or their descendants, then the surviving spouse receives the entire estate.

In addition, the community property of the deceased spouse passes to the surviving spouse if there are no other descendants or if all of the surviving children and descendants of the deceased spouse are also children or descendants of the surviving spouse. Otherwise, one-half of the community property goes to the surviving spouse and one- half goes to the children or descendants of the deceased spouse.

If there are children and no surviving spouse, the entire estate is divided among the children and their descendants.

If all of the children are living, they share in the estate equally. If one or more of the children are deceased, their descendants split a share equal to the share their parent would have received if alive.

If there is both a surviving spouse and children, or their descendants, the surviving spouse receives one-third of the personal estate and the balance of the personal estate goes to the children of the deceased and their descendants. The surviving spouse also receives an estate for life in one-third of the land of the deceased, with remainder to the children and their descendants.

If the decedent leaves neither a spouse nor children, the estate goes to the decedent's father and mother equally. If only one parent survives, then one-half goes to the surviving parent and the other half goes to the brothers and sisters of the deceased and to their descendants. If there are no siblings or their descendants, then the entire estate goes to the surviving parent. If neither parent survives, then the entire estate goes to the brothers and sisters and their descendants. If there are no siblings or their descendants, then the estate goes to the grandparents and their decedents. The line of inheritance continues in an attempt to locate the decedent's nearest kin. Anyone entitled to inherit a portion of an intestate decedent's estate is known as an Heir.

The Law distinguishes between kinds of whole or half-blood. If an estate passes to descendants of both whole and half blood, each of those of half blood inherit only half as much as each of those of whole blood. If all of the descendants are of half blood, they inherit whole portions.

One problem with relying on a probate court applying state inheritance laws to distribute one's estate is that it may not distribute the estate in the manner the decedent would have wanted. State inheritance laws only recognize relatives. The inheritance laws never permit the probate court to support a decedent's close friend, lover, or favorite charities. If the decedent leaves no kin, the estate goes to the state. Clearly, for most people writing a will or creating a trust is advisable.

I encourage you to use this information to form question to present to a lawyer that specializing in Estate Planning.

This information should be accepted with caution and verified by an attorney because of variation between states.

Answer 2

Generally, it will go to the parents. Probate Court makes the finding of who will be in charge of the estate. I just went through this, and there are all sorts of difficulties with probate, and DO NOT COUNT ON THE JUDGE to be helpful. Understand that all of them wanted to be on the Supreme COurt, and now, deciding what happens to stuff after someone dies is not there idea of having power and a great career. The two that I dealt with, both in San Diego County, were incompetent and had no interest in the matters before them. One was so offensive that if he had said the things he did anywhere there wasn't a bailiff nearby, I would have throttled him.

Answer 3

nicely if this guy or woman has no ultimate kinfolk or next of kinfolk, i might assume that the mastercard companies consume those 1000's owed to them.......needless to say they comprehend some human beings won't repay their credit enjoying cards ...and so on. earlier they die...and that i might say that if that guy or woman did have kinfolk like babies or sibilings...and so on.. then perchance the mastercard companies might seek for them to be sure to it that the staggering debt is paid, yet i'm beneficial that $500.00 is long gone and used to pay regardless of it ought to ...perchance even that mastercard debt, besides the actuality that it did not pay it off thoroughly. What can they do approximately it?? a minimum of, of their innovations, they have been given something particularly than not something.

Answer 4

The case goes to probate court, and would be awarded to the next closest living relative.

If you believe you are the nearest living relative, you can file a claim with the probate office.

Answer 5

It is awarded according to your State intestacy laws

Answer 6

well lf they have life insurance and whoever is the benificery l would split the rest with family members like brothers and sisters or even the parents

Answer 7

IT has to go to probate court..... dont be usen that money you can get in trouble.. with out a will that is....

Answer 8

Nothing good. It usually goes to the state or something I think.

Answer 9

it goes to probate this means it goes to government if there are any relatives they must prove they are any taxes to be paid are taken out before they get any