Why Intestate Law is Important in Inheritance Procedure
Intestate law is applicable when a person dies without leaving behind a will for inheritance of property. The intestacy law is used as a guideline of property distribution of the deceased. Intestate is a person who dies before preparing the will that indicates how his/her property should be shared to his/her closest people who are left behind. Intestate law outlines in order the hierarchy of the group of people who were close to the deceased and how the property will be distributed to them. The hierarchy is followed according to the relationship of the deceased with the people who stand to inherit the property. During the division of the property, two tools are used to divide the property which includes per stripe and per capita. These tools are necessary when the number of people entitled to inheritance is huge. The following are some of the hierarchy outlined by intestate law.
The first on the hierarchy is the spouse of the deceased who has the right to get a share of the estate if not all of it. The first inheritance of a spouse is an estate which was owned by the deceased. In the case where no child was left behind, the spouse is entitled to inherit the whole estate without caring if there are other relatives left behind. It is important to understand that cohabitation partner and the common law marriage does not entitle a spouse to inheritance law. Click here for more info.
The second on the intestate hierarchy are children of the deceased. The piece of an estate left behind is usually divided equally among the existing children of the deceased if there is no spouse left behind. In case there is a spouse, the rules changes. Depending on the size of the estate, a spouse is given a certain percentage of the estate and the remaining percentage distributed equally to all the children. It is important to know that deceased adopted children are taken as the biological children. According to the intestate law, children are not supposed to inherit the debt of their deceased parent and therefore the assets inherited by the children cannot be used to settle the debts. The probate court under intestate law has the right to picking a suitable guardian for the deceased’s small kids.
The third on the intestate hierarchy are parents and siblings of the deceased person. This hierarchy is arrived at if deceased did not leave behind children, spouse or grandchildren. On this level of the hierarchy, parents are given the first priority and if the parents are not around, siblings are then picked to be inheritors.
The third on the intestate hierarchy are distant relatives and this happens only if the deceased do not have an existing spouse, children, siblings or any descendant. Cousins, aunts, uncles, and grandparents are some of the distant relatives.
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