Related Definitions
What is an Intestate Succession?
The process in which assets from a deceased individual’s estate are distributed in accordance with state law. Assets from an estate with an omitted heir will pass through the intestate succession process to determine which beneficiaries will receive what shares of assets.
The process by which a decedent’s assets are distributed according to state intestacy laws when they die without a valid will. Intestate succession laws vary by jurisdiction but generally prioritize immediate family members, such as spouses and children. This process highlights the importance of having a will, as intestate succession may lead to unintended outcomes that do not align with the decedent’s wishes. Understanding intestate succession is crucial for individuals without an estate plan, ensuring their assets are distributed in accordance with their intentions.
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