What is a division of assets upon death?
Division of assets upon death is a legal process that occurs when a person passes away. In the state of Washington, if a person dies without a will, their assets are divided according to specific laws established by the state. Generally, the state’s rules of descent and distribution determine who will receive a deceased individual’s assets. In Washington, the assets of an individual who dies without a will go first to the decedent’s spouse and children. If there is no spouse or children, assets may go to the decedent’s parents or next of kin. If no living relatives can be identified, then assets often go to the state. The court will then assign an executor or administrator to handle the distribution of assets according to the state’s laws. This executor or administrator will contact potential beneficiaries, collect assets, pay bills or taxes, and make sure that assets are transferred according to the laws in Washington. Inheritance law can be complicated, so it is important to seek legal help if you have questions about dividing assets after someone dies. A lawyer can provide guidance and advice on how to make sure that the estate is divided according to the wishes of the deceased individual in a way that is legally binding.
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