Intestate: What does it mean and what should I do?
When someone passes away without leaving a valid will or if their will is deemed invalid, the estate is considered “intestate.” In such cases, the distribution of the deceased person’s assets and property will be determined by the intestacy laws of the state or territory in which they resided.
The intestacy process varies from one jurisdiction to another, but some common steps typically occur during the intestacy process:
- Identifying the Next of Kin: The first step is to identify the deceased person’s closest living relatives, known as the next of kin. This may include the surviving spouse or domestic partner, children, parents, siblings, or possibly more distant relatives if there are no surviving close relatives.
- Appointing an Administrator: In the absence of a will, the court will appoint an administrator to handle the estate. The administrator is typically a close family member, or another interested party, such as a beneficiary.
- Inventory and Appraisal: The administrator’s first task is to identify and locate all the assets and property owned by the deceased. This includes real estate, bank accounts, investments, personal belongings, and any other valuable items. An appraisal or valuation may be necessary to determine the value of certain assets.
- Paying Debts and Taxes: Before distributing any assets to the heirs, the administrator must settle any outstanding debts and taxes owed by the deceased. This may include funeral expenses, outstanding bills, and taxes due.
- Distribution of Assets: Once all debts and taxes have been paid, the remaining assets are distributed among the deceased person’s heirs according to the intestacy laws of the jurisdiction. The distribution is typically based on the degree of relationship to the deceased.
- Potential Court Proceedings: In some cases, disputes may arise among potential heirs, or there might be uncertainty about the proper distribution. This could lead to court proceedings to resolve any conflicts and ensure a fair distribution of assets.
- Reporting to the Court: Throughout the intestacy process, the administrator may be required to file reports with the court detailing the progress of estate administration and asset distribution.
It’s important to note that the intestacy process can be complex, and the specific steps and rules can vary depending on the unique circumstances of the case. Barnard Lawyers is here to help you through the intestacy process.
This article is for general information only and is
not legal advice. Should you wish to discuss this further please call us now
086114-5920 or email info@barnardlawyers.com.au
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