How is an intestate estate divided among multiple heirs?

In New York, if a person dies without a valid will, then they are said to have died “intestate.” When this happens, the state’s intestate succession law governs how the deceased’s estate is divided among their heirs. The first step in determining how the estate is divided is to identify all of the deceased’s heirs. In New York, the legal definition of an heir includes all spouses, children, and parents of the deceased. Other relatives may also qualify if they are related to the deceased through blood or adoption. Once all the heirs have been identified, the next step is to determine how the estate will be divided among them. In New York, the estate is divided first between the surviving spouse and the surviving children of the deceased. The surviving spouse is generally entitled to the first $50,000 of the estate, plus one-half of the remaining balance. The remaining half is then divided among the surviving children. If the deceased had no surviving spouse or children, then the estate will be divided among the deceased’s parents. If there are no surviving parents, then the estate will be divided among the deceased’s siblings. If there are no surviving siblings, then the estate will be divided among the deceased’s other relatives. Ultimately, how an intestate estate is divided among multiple heirs depends on the specific circumstances surrounding the deceased’s family. It is best to seek legal advice from an attorney in order to determine how the estate will be divided.

Related FAQs

Is there a limit to the amount of inheritance tax due on an intestate estate?
Can a will override an intestate succession?
Can creditors waive their rights to an intestate succession?
What happens if someone dies without a will?
How is an intestate estate divided if there is no surviving spouse?
How is an intestate estate divided if there are no surviving relatives?
Are there any restrictions on who can receive assets from an intestate estate?
What happens to life insurance proceeds in an intestate succession?
What is the order of priority when dividing an intestate estate?
What happens to joint bank accounts in an intestate succession?

How is an intestate estate divided among multiple heirs?

Related FAQs

Related Blog Posts