What is the difference between a will and an intestate estate?

The difference between a will and an intestate estate is that a will is a legally binding document that someone creates to control the distribution of their assets and property when they die. They can designate beneficiaries, and specify exactly how the assets and property should be divided. In contrast, an intestate estate occurs when someone dies without creating a valid will. In this case, the laws of the state of Indiana dictate how assets are distributed upon death. The law creates a framework called intestate succession, which outlines the order in which property is distributed. Generally, a person’s surviving spouse is the first to receive assets, usually followed by his or her children, grandchildren, parents, siblings, and other relatives. Any assets that are not distributed according to intestate succession laws will be sent to the state. Therefore, it is important to create a valid will, if possible, to ensure that your assets are distributed according to your wishes.

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What is the difference between a will and an intestate estate?

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