Next Of Kin
Definition of 'Next Of Kin'A person's closest living blood relative. The next-of-kin relationship is important in determining inheritance rights if a person dies without a will and has no spouse and/or children. The deceased's estate becomes state property if no legal heir can be identified. The next of kin can also be called upon to make medical decisions for a person who has become incapacitated or to make funeral/burial arrangements. |
|
Investopedia explains 'Next Of Kin'Legal order of precedence determines who is considered next of kin. Children, parents, grandchildren and siblings are the most common next of kin under U.S. law. |
Related Definitions
Articles Of Interest
-
Bursting Boomers' Inheritance Dreams
Waiting for a big payload from an aging relative? The chance of cashing in is lower than you think. -
Why You Should Draft A Will
Don't trust the courts to follow your wishes - plan the distribution of your own assets. -
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. -
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. -
Tax-Efficient Wealth Transfer
Taxpayers with large taxable estates were required to take steps to reduce them before 2011. -
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. -
Tax-Saving Advice For IRA Holders
Be informed about benefits and deductions that may apply to you and avoid costly mistakes on your return. -
Relationships And Retirement Planning
Older couples have many things to consider when it comes to financial planning, including wills and estate planning. -
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. -
Protect Your Personal Assets
A family limited partnership (FLP) can go a long way toward securing your family's property.
Free Annual Reports