Related Definitions
What are Intestacy Laws?
State laws that specify an order of priority for the distribution of a deceased individual’s assets.
Laws governing the distribution of a decedent’s estate when no valid will exists. Intestacy laws vary by state, but they generally prioritize close relatives, such as spouses and children, in the distribution of assets. Understanding intestacy laws is crucial for individuals without an estate plan, as these laws dictate how their property will be divided upon death, often leading to outcomes that may not reflect their wishes or intentions.
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