Intestacy
Clarity in Estate Distribution: Guides You Through Intestacy Matters to Ensure Fair Share of Assets.
What is Intestacy?
An Intestacy is a situation in which a person dies without leaving any will or formal arrangement for what has to be done to their assets, properties, and estate. When such incidents arise, the estate, assets, and properties are distributed according to the laws of intestacy.
What happens when there is no Will left behind by the deceased?
If there is no Will left behind by the deceased, the laws of intestacy will be implemented. This law will draw the lines of the procedure of what has to be done when a person dies and leaves behind no will. A list of people is also made who are entitled to receive a share of the deceased’s estate. This will provide some structure and security in an already chaotic and difficult process.
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Distribution of the assets and properties
The assets and properties of the estate need to be distributed according to the prescribed intestacy laws. This law will list all the people that the estate will be distributed to like siblings, grandparents, parents, children, and spouses.
According to the intestacy laws:
But when you are stating about transferring the properties to the beneficiaries, a Probate Letters of Administration will need to be shown. Also, nursing homes will not release the funds held until the Probate Letters have been granted.
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This is a very general list that will be reflected on an average person. Hence, a personal Will is required that will clearly express your wishes.
The Estate’s Administration
If someone wants to be appointed as the temporary administrator, who usually is someone next to kin of the deceased, that person will need to apply to the Supreme Court for a grant of Administration. This grant includes the list of everything that was previously owned by the deceased ranging from books and furniture to bank and real estate accounts.
It also becomes the responsibility of the administrator to look after everything and maintain their conditions. Also, the investments need to be looked after for the best advantage of the beneficiaries.
Because maintaining and administrating the estate is a major responsibility, it is not handed over to any stranger easily.
Making a Will
Writing down a personal Will is the only possible way to make sure that your wishes will be carried out exactly how you wanted after you pass away. This is because your estate is built on a lifetime of time, money and hard work you put it. So, it is quite natural that you would want it to be divided as to however you wish.
When your final wishes are left unknown, intestacy laws step in to make sure that your assets are distributed to your next kin. However, this law will not represent how exactly you would have thought the division would take place.
How can we help you in this matter?
It always ends in a positive note when you make a Will.
However, if you have a relative who has passed away without leaving behind a Will, we will help you in every step. Our will estate lawyers will consult you in this matter and make sure that you get your rightful share of the estate and assets.
All you need to do is contact us via telephone or email.
Contact Us?
Our Commercial Business legal team offers an extensive range of legal aid concerning anything related to litigation.
Our skilled and knowledgeable professionals are ready to assist you in the most efficient and expedient way. When you avail our legal services, you can leave all the legal matters in our capable hands. We ensure you receive the appropriate legal assistance.
Contact Us
Our Commercial Business legal team offers an extensive range of legal aid concerning anything related to litigation.
Our skilled and knowledgeable professionals are ready to assist you in the most efficient and expedient way. When you avail our legal services, you can leave all the legal matters in our capable hands. We ensure you receive the appropriate legal assistance.