What is the order of priority when dividing an intestate estate?

In Florida, when a person dies without having a will, their estate will be divided according to the state’s intestacy laws. Intestate succession law outlines the order of priority for dividing an intestate estate. First, any debts or taxes due on the estate must be paid in full. The remaining assets are divided among family members in the following order of priority: 1. Spouse and children: The surviving spouse will receive the entire estate if there are no children. If there are children, the surviving spouse will receive the first $60,000 plus one-half of the balance. The children will divide the remaining half among themselves. 2. Parents: If there is no surviving spouse or children, the estate will be divided equally between the parents of the deceased. 3. Grandparents: If there are no surviving spouse, children, or parents, the estate will be divided equally between the grandparents of the deceased. 4. Brothers and sisters: If there are no surviving spouse, children, parents, or grandparents, the estate will be divided equally among the siblings of the deceased. 5. Other relatives: If there are no surviving spouse, children, parents, grandparents, or siblings, the estate will be divided equally among other relatives of the deceased. If there are no relatives, the estate becomes the property of the State of Florida. In summary, the order of priority for dividing an intestate estate in the State of Florida is: surviving spouse and children, parents, grandparents, siblings, other relatives, and lastly the State of Florida if there are no relatives.

Related FAQs

Is there a limit to the amount of estate taxes owed on an intestate estate?
How do state laws determine who is considered a surviving relative?
Can a surviving spouse make a will after the death of the deceased?
Does the size of an intestate estate matter?
What happens if one of the heirs is a minor?
What are the filing deadlines for an intestate succession?
Can an intestate succession be challenged on the basis of undue influence?
What happens if someone dies without a will and has no surviving relatives?
What is the process for determining an intestate estate?
Are there any restrictions on who can serve as the executor of an intestate estate?

What is the order of priority when dividing an intestate estate?

Related FAQs

Related Blog Posts