What happens to my assets if I die without a will?

If you die without a will in Indiana, your assets and possessions will be distributed according to the laws of intestacy. Intestacy laws are state-specific and determine who inherits the estate in the absence of a will. The laws aim to evenly and fairly distribute the estate to the closest surviving relatives. In Indiana, the amount of assets passed to each relative depends on the value of the estate and the relationship to the deceased person. The state’s intestacy laws detail what happens if a deceased person leaves behind a spouse, children, parents, and siblings. In general, a surviving spouse is the first to receive property if the deceased spouse did not have any surviving parents or children. If the deceased spouse has a child, the spouse will receive half of the assets and the remaining half will be passed to the child. If the deceased spouse had no surviving children and the parents are still alive, the parents receive the entire estate. If the deceased person had no spouse or children, the entire estate is divided amongst the parents and siblings. If the deceased person had no living parents or siblings, the estate is passed down to relatives in the following order: nieces and nephews, grandparents, aunts and uncles, and the deceased person’s first cousins. If the deceased person had no living relatives, the state will keep the estate. Intestacy laws are established to ensure that your assets and possessions are equitably distributed to your closest surviving relatives. It is important to note that these laws do not take into account any wishes you may have had about how you would like your estate to be distributed. Therefore, it is wise to create an estate plan outlining your wishes to ensure that your wishes are represented.

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What happens to my assets if I die without a will?

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