What kind of assets are subject to intestate succession?

In Florida, assets that are subject to intestate succession are those that the deceased owned solely in their name at the time of their death. These assets could include any real property such as a home, a car, furniture, jewelry, money in bank accounts, and investments. Assets that are held jointly with another person, such as a spouse, do not pass through intestate succession, since the surviving spouse would receive the assets in accordance with the terms of the joint ownership. The other type of asset that is subject to intestate succession is personal property. This includes any items that were owned by the deceased, such as clothing, jewelry, and other types of tangible personal property. Intestate succession applies to assets only owned by the deceased. If an estate has any debts at the time of the death, those debts must be paid from the estate before any assets can be distributed to heirs. Intestate succession laws do not apply to any assets that pass through a will or trust, since these assets are distributed according to the wishes of the deceased. Intestate succession laws vary from state to state, so it is important to understand the laws which apply in your state when determining which assets are subject to intestate succession. It is also important to seek legal advice if there is any confusion regarding the laws in your state.

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What kind of assets are subject to intestate succession?

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