What property is subject to intestate succession?

In Georgia, property subject to intestate succession is mainly focused on real estate, financial assets, and tangible personal assets. Real estate refers to any land, buildings, or homes that are owned within the state. This includes any rights to minerals, timber, and oil. Financial assets refer to any money, stocks, bonds, or mutual funds that are held in the decedent’s name at the time of death. This also includes any annuities, life insurance policies, or similar instruments that are named as beneficiary to the decedent. Finally, tangible personal assets are items that have a physical presence. This includes any jewelry, furniture, clothing, or electronics that are owned by the decedent. Any property that is subject to a legal contract or will is not considered part of the intestate estate. This means that any money in a trust or bank account with a beneficiary or payable-on-death designation would go to the named beneficiary and not the decedent’s estate. Similarly, real estate that is held in joint tenancy or tenancy-by-the-entirety would pass directly to the surviving joint tenant and not the decedent’s estate. It’s important to note that certain property such as a decedent’s debts and outstanding obligations are not subject to intestate succession. Similarly, any personal property that is owned by the decedent but located outside of the state is not considered part of the decedent’s estate and is not eligible for intestate succession. Finally, any property that passes by operation of law, such as an inheritance, is also not subject to intestate succession.

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What property is subject to intestate succession?

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