Intestacy Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Intestacy, written in plain English, along with examples of how it is used.
What is Intestacy?
It is the term used in law when a person dies without a Will or a valid Will. As per the law of Descent and Distribution, the excess estate above the debts of the person dies intestecy, the estate is distributed.A Public Administrator is appointed to do the Justice.
History and Meaning of Intestacy
Intestacy is a legal term used to describe the situation when a person dies without a valid will or a will at all. In such a situation, the property and assets of the deceased (known as the "estate") are distributed according to the law of descent and distribution. The process of distributing the estate is usually overseen by a public administrator who is appointed by a court. Intestacy laws vary from country to country and from state to state, but they typically follow a formula that distributes the deceased's assets to their next of kin in a specific order.
Examples of Intestacy
- John died without a will, so his estate was distributed according to the intestacy laws of his state. Since he had no spouse or children, his estate went to his parents.
- Mary passed away without a will, so her estate was distributed according to the laws of her country. As she had no living relatives, her estate went to the state.
- When Tom died without a will, his estate was divided equally among his surviving siblings under intestacy rules.
- Will: A legal document that outlines how a person's assets will be distributed upon their death.
- Probate: The legal process by which a deceased person's will is validated, and their assets are distributed according to their wishes.
- Executor: The person appointed in a will who is responsible for administering the deceased's estate.
- Trust: A legal arrangement in which a third party holds assets on behalf of a beneficiary.
- Inheritance Tax: A tax paid on the assets received by heirs or beneficiaries of a deceased person's estate.