How are assets distributed in an intestate estate?

In an intestate estate, assets are distributed in a specific order that is predetermined by the state. In South Carolina, if the deceased individual was married, the surviving spouse is typically the first in line to receive assets from the estate. The surviving spouse is entitled to receive the entire estate if there are no surviving children, parents, or siblings of the deceased individual. If there are surviving children, then the surviving spouse is typically entitled to two-thirds of the estate if there are two or more children, or one-half if there is only one child. The remaining assets are typically split among the surviving children. If there are no surviving children, but there are surviving parents or siblings, then the surviving spouse is typically entitled to one-half of the estate. The remaining assets are then split between the surviving parents or siblings. In the rare case that the deceased individual had no surviving spouse, children, or parents, the surviving siblings are typically entitled to the entire estate. If there are no surviving siblings, then the nearest living relative is entitled to receive the estate. Therefore, assets from an intestate estate are distributed amongst the surviving family members in a specific order that is predetermined by the laws of the state of South Carolina.

Related FAQs

Are trusts part of an intestate succession?
Can a surviving spouse waive their rights to an intestate estate?
Are there any limits to the amount of estate taxes owed on an intestate estate?
Can an intestate estate be contested in court?
How long does an intestate succession take?
Are there any debts that cannot be claimed in an intestate succession?
Can creditors waive their rights to an intestate succession?
What are the filing deadlines for an intestate succession?
Can a court order the division of an intestate estate?
How does a surviving spouse's remarriage affect an intestate succession?

How are assets distributed in an intestate estate?

Related FAQs

Related Blog Posts