Intestacy

Intestacy,

Definition of Intestacy:

  1. Intestacy refers to the condition of an estate of a person who dies without a will, and owns property with a total value greater than that of their outstanding debts. In addition, a will that covers only part of an estate sometimes is intestate. In either of these instances, a probate court often distributes the assets of the deceased.

  2. Typically, property goes to a surviving spouse first, then to any children, then to extended family and descendants, following common law. If no family can be found, property typically reverts to the state.

  3. Condition or fact of dying without leaving a valid will. Opposite of testacy.

How to use Intestacy in a sentence?

  1. When this happens, the deceased's estate is handed over to probate courts to identify beneficiaries and allocate assets.
  2. In almost all cases, intestacy is best avoided. A will is perhaps the easiest way for people to direct who should inherit their assets.
  3. Intestacy occurs when a person dies without a will.

Meaning of Intestacy & Intestacy Definition