Dying after leaving behind a will is always recommended by the probate attorney in Brooklyn. This way the estate will get distributed among the beneficiaries according to the instructions made by the deceased.
Sometimes people die without leaving behind a will. In this case, the deceased is considered to have an intestate asset. These assets distribution is done through a court process known as estate administration.
The intestate succession law will apply to those assets which are owned by the deceased. The assets that didn’t come under this law are the properties transferred to any trust, life insurance proceeds, payable on death bank accounts, funds in IRA, etc.
According to the intestate succession law, the assets will go to the deceased’s closest living relative.
A closed distributee of the deceased should open the estate and look after the probate proceedings, as stated in intestate succession law.
- Spouse’s Share Through Probate Attorney In Brooklyn
If the deceased person is married and has not left a will, then according to the Brooklyn laws, the spouse share will depend on whether or not the deceased have living children.
In case the deceased has no children, then the spouse inherits everything that the deceased had according to the intestate succession laws.
If the deceased has children, the spouse will receive $50,000 first and then half of the remaining amount.
The spouse is suggested to hire a probate attorney in Brooklyn in order to finish this process of inheriting quickly and with professional support.
- Children’s Share
Children will receive a portion of the intestate share. The share each child will get would depend on the number of children the deceased had and whether the deceased has a spouse or not. In the absence of a spouse, the children inherit everything and distribute it among themselves equally.
Children who are acquiring the intestate share should prove legally that the deceased is their father. A legally adopted child of the deceased has equal shares in the assets to be probated. If the deceased had adopted a child without proceeding the legal requirements, then that child cannot claim any of the intestate shares.
Child of the deceased who is adopted by another family legally doesn’t hold any rights on the assets.
A child conceived by the deceased but not born before his death. This child can claim the intestate asset provided if he was in the uterus within two years of his death or born before three years of his death.
Children outside of marriage can also claim the shares if the deceased, with the mother of the child, has signed an acknowledgment of being parents of the child and filed it where the child’s birth certificate is registered.
If the deceased’s children have died before him/her, then the intestate shares will go to the grandchildren of the deceased.
The children are suggested to hire a probate attorney in Brooklyn in order to do all the work smoothly.
- Parent’s Share Through Probate Attorney In Brooklyn
The deceased’s parents will take part in the intestate share if the deceased is single and doesn’t have any children. The parents of the deceased will be entitled to all the assets owned by the deceased
- Sibling’s Share Through Probate Attorney In Brooklyn
Suppose the parents of the deceased who are single have died. Then the whole intestate share will go to the siblings of the deceased person. The percentage of each sibling will depend on the number of siblings the deceased had.
If the siblings have died before the deceased, then the children of the siblings will get the share.
If the deceased had no siblings, then the intestate share would be divided between the dead’s parents’ families. There will be an equal share between the mother’s side and father’s side of the family.
- Estate Taxes And Debts
The estate taxes should be paid from the intestate shares. The debts the deceased had should also settle before the share goes to the relatives of the deceased. This is all managed by the executor assigned by the court.
Creditors should prove of having unclear debts with the deceased by showing proof to the court. After which the court will approve the payment and order the executor to settle the debt with the intestate shares.
These are the rules a state follows to deal with the distribution of assets of a deceased who has not made a will. The close distributee who is opening the probate should help a probate attorney in Brooklyn understand the different laws related to intestate shares.