What Happens if I Die Without a Will? |
Michael Palermo
If you die intestate, that is, without a Will, what happens to your property or estate? This depends on a variety of things such as the state where you live, your marital status, whether you have children or not, and other factors.
Married With Children
In this case, most states award one-third to one-half of the estate to the surviving spouse. The rest goes to the child or is split among the children regardless of their age.
Married With No Children
If the couple doesn't have children about one-third to one-half of the estate is given to the surviving spouse. The remainder generally goes to the parents of the deceased. If the parents are dead, brothers and sisters (half-siblings are treated the same as full blood siblings) would receive their share.
Single With Children
When a single person who has children dies without a will, the law uniformly states that it all goes to the children.
Single Person With No Children
If the person's parents are still living they would receive the property. Otherwise, it would be divided among siblings, if there are any.
Michael Palermo is a Lexington, Kentucky estate planning lawyer and Certified Financial Planner. More information about estate planning can be found on his Web site.