Intestacy is the legal situation which exists when an individual dies without a will and the value of the estate out weighs any debts of the estate.
With a will or trust, a person designates beneficiaries and decides how their estate will be handled and distributed. When a person dies without a will or trust, their estate is “intestate,” with no designations for distributions or beneficiaries. In this situation, the assets in the estate are to be distributed according to the governing law. In California, the assets of an intestate individual’s estate can be distributed to surviving parents, spouse, children and grandchildren. In some cases, the relatives of the intestate individual’s spouse or domestic partner may be distributed assets of the estate. If no relatives survive, the intestate individual, the state of California may ultimately become the beneficiary.
After a loved one dies, it is important to locate their will or trust, if one exists. If these documents do not exist, it is important to seek legal advice regarding the administration of the intestate individual’s estate. Intestacy can lead to complicated asset distribution schedules in order to adhere to the governing laws.
If you are experiencing intestacy or inheritance issues, The Boutique Law Group can help. We are experienced and knowledgeable about intestacy and are glad to offer our help, call (310)439-5670 for visit boutiquelawgroup.com to learn more or schedule your complimentary consultation.