What happens to the assets in an intestate estate after the death of the deceased?

In California, if a person dies without an estate plan in place which outlines the distribution of their assets, then they are said to have died “intestate.” When this happens, the assets are distributed according to the intestate succession laws of California. Under California law, when a person dies without a will, the estate will pass to the deceased’s closest living relatives and the state will oversee the estate until the assets are distributed. The specific order of succession is determined by the number of living family members. Assets will first be given to the surviving spouse and if the deceased did not have a spouse, then the assets would pass to the deceased’s children. If the deceased did not have children, then the assets would pass to the deceased’s parents. If the deceased did not have parents, then the assets would pass to the deceased’s siblings, nieces and nephews, or grandchildren, depending on who is the closest living family member. The state of California outlines further rules when it comes to the distribution of assets in an intestate estate. For example, if the deceased had no living relatives, then the assets would go to the state and any money owed, such as taxes, would first be taken from the estate before assets are distributed. In summary, when a person dies intestate in California, the assets will be distributed to the deceased’s closest living relatives according to the order of succession outlined in the state’s intestate succession laws. If the deceased had no living relatives, then the assets would go to the state.

Related FAQs

What happens if someone dies without a will?
Is there a limit to the amount of estate taxes owed on an intestate estate?
Are there any restrictions on who can receive assets from an intestate estate?
How do property taxes affect an intestate succession?
Are there any debts that cannot be claimed in an intestate succession?
What happens to retirement benefits in an intestate succession?
Can an intestate estate be divided in any way?
Are there tax consequences for inheriting from an intestate estate?
What happens to joint bank accounts in an intestate succession?
Can a court order the division of an intestate estate?

What happens to the assets in an intestate estate after the death of the deceased?

Related FAQs

Related Blog Posts