Intestate

What does it Mean? The act of dying without a legal will. Determining the distribution of the deceased's assets then becomes the responsibility of a probate court.
Investopedia Says... To have died "in intestacy" means a court-appointed executor will compile any assets of the deceased, pay any liabilities and distribute the assets to those parties deemed as beneficiaries.

To ensure that your friends and loved ones receive the contents of your estate upon your passing on, it is extremely important to make a will, or have a will made on your behalf by a lawyer qualified to do so.

Terms Related Links

Benficiary
Estate
Estate Planning
Exordium Clause
Liability
Non-Contestability Clause
Probate
Trustee
Will

Terms Related Links
Three Documents You Shouldn't Do Without - Estate planning is not just about the division of assets after you die. Read on to save your loved ones extra grief.

Why You Should Draft A Will - Don't trust the courts to follow your wishes - plan the distribution of your own assets.

Six Ways To Lose Your Estate - Find out why you shouldn't put off putting your affairs in order.

Skipping-Out on Probate Costs - Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.

Getting Started On Your Estate Plan - With some preparation, you can save your heirs from paying a hefty estate tax. Here are some tips.

Refusing An Inheritance - Contrary to popular belief, inheriting assets isn't always a good thing. Find out what to do if you want to disclaim them.




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