Investopedia

Continue to Site »

Intestacy

Filed Under » ,
Dictionary Says

Definition of 'Intestacy'

The condition of an estate of an individual who dies with property valued greater than outstanding debts, but in which there is not a valid will present. Intestacy may also exist if an existing will does not cover an entire estate. In common law systems, property of an estate in intestacy will typically first go to a spouse, then to children and descendants.
Investopedia Says

Investopedia explains 'Intestacy'

Rules governing the succession of an estate in intestacy are typically laid out by the state in which the deceased lived, and may vary across the United States. Because of the complexity of this type of estate law, called intestacy law, individuals who want to determine who receives property from an estate, should ensure that they complete a will.

Articles Of Interest

  1.

    Establishing A Revocable Living Trust

    This arrangement allows you to have more control over your estate - both before and after your death.

  2. An Estate Planning Must: Update Your Beneficiaries

    Life changes make it time to rewrite your plan's designations.

  3. Skipping-Out on Probate Costs

    Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.

  4. Why You Shouldn't Die In 2013

    Increases in estate tax rates and possible fiscal cliff implications will make things more difficult when it comes to arrangements for your death.

  5. Tax-Efficient Wealth Transfer

    Taxpayers with large taxable estates were required to take steps to reduce them before 2011.

  6. What To Do When You're Left Out Of A Will

    Discover the legal steps you can take if you are left out of a will and if fighting is worth the effort.

  7. Tax-Saving Advice For IRA Holders

    Be informed about benefits and deductions that may apply to you and avoid costly mistakes on your return.

  8. Relationships And Retirement Planning

    Older couples have many things to consider when it comes to financial planning, including wills and estate planning.

  9. What Is A Will And Why Do I Need One?

    Putting this document together will save your family time and money, and give you peace of mind.

  10. Protect Your Personal Assets

    A family limited partnership (FLP) can go a long way toward securing your family's property.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  2. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  3. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.

  4. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.

  5. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.

  6. Consequential Loss

    The amount of loss incurred as a result of being unable to use business property or equipment.
Trading Center