How is an intestate estate divided if there are no surviving relatives?

If someone dies without a Will in the state of New York, the decedent’s estate will be divided according to the state’s Intestate Succession Law. This law dictates how property and assets will be passed to the person’s heirs if no surviving relatives can be located. The estate will begin by being divided into two parts. The first part consists of the decedent’s personal belongings such as their furniture, car, and clothing. These items will be passed to any surviving relatives, such as a spouse or child. If there are no surviving relatives, the items will be distributed to the decedent’s closest living relatives. The second part of the estate consists of the decedent’s financial assets, such as money, investments, or real estate. These assets will be distributed according to the laws of intestate succession. If the decedent had no living relatives, this money will be placed in a trust. The trust will then be held until a relative is found. If no relative is found after a period of time, the estate’s assets will be distributed to the State of New York. The laws of intestate succession are designed to ensure that the decedent’s assets are distributed fairly and that all relatives are given their fair share, if any. The laws can be complex and can vary from state to state. If you have questions regarding intestate succession laws in New York, it is best to consult an attorney who specializes in estate planning.

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How is an intestate estate divided if there are no surviving relatives?

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