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Definition of 'Intestate'
The act of dying without a legal will. Determining the distribution of the deceased's assets then becomes the responsibility of a probate court.
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Investopedia explains 'Intestate'
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.
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Estate planning is not just about the division of assets after you die. Read on to save your loved ones extra grief.
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Don't trust the courts to follow your wishes - plan the distribution of your own assets.
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Find out what you need to prepare to avoid serious estate planning mistakes.
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Putting this document together will save your family time and money, and give you peace of mind.
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Find out why you shouldn't put off putting your affairs in order.
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Deciding what will happen to your assets when you pass away is a must - no matter how wealthy you are.
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Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.
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With some preparation, you can save your heirs from paying a hefty estate tax. Here are some tips.
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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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