How to Start Intestate Succession
Intestate succession refers to the process of distributing a person’s assets when they die without a valid will. This can be a complex and often confusing process, as it is governed by state laws and can vary significantly from one jurisdiction to another. If you find yourself in a situation where intestate succession may apply, it is crucial to understand the steps involved in initiating this process. This article will guide you through how to start intestate succession.
1. Determine if Intestate Succession Applies
The first step in starting intestate succession is to determine if it applies to the deceased person’s estate. This is typically done by checking if the deceased individual passed away without a valid will. If there is a will, but it is deemed invalid or incomplete, intestate succession may still apply.
2. Identify the Executor
Once it is established that intestate succession is applicable, the next step is to identify the executor. The executor is responsible for managing the deceased person’s estate and overseeing the distribution of assets. If the deceased left a will, the executor named in the will should take on this role. If there is no will, the state may appoint an administrator to handle the estate.
3. File a Petition for Probate
To initiate the intestate succession process, the executor or administrator must file a petition for probate with the appropriate court. This petition should include information about the deceased person’s assets, debts, and potential heirs. The court will review the petition and determine if probate is necessary.
4. Notify Heirs and Creditors
After the petition for probate is filed, the executor or administrator must notify all potential heirs and creditors of the deceased person’s estate. This is typically done by publishing a notice in a local newspaper. The notice alerts interested parties of the probate process and provides them with an opportunity to file any claims or contest the distribution of assets.
5. Inventory and Appraise Assets
The executor or administrator must inventory and appraise the deceased person’s assets. This involves identifying all property, including real estate, bank accounts, investments, and personal belongings. The appraised value of each asset will be used to determine the total value of the estate.
6. Pay Debts and Taxes
Before distributing assets to heirs, the executor or administrator must pay any outstanding debts and taxes owed by the deceased person. This may include credit card debts, medical bills, and federal and state taxes. It is essential to ensure that all debts are settled to avoid potential legal issues for the heirs.
7. Distribute Assets to Heirs
Once debts and taxes are paid, the remaining assets can be distributed to the heirs. The distribution of assets will be governed by state laws of intestacy, which dictate how assets are divided among surviving family members. The executor or administrator must follow these laws carefully to avoid legal challenges.
8. Close the Estate
After the assets have been distributed and all debts and taxes have been paid, the executor or administrator must file a final account with the court. This account details the estate’s activities and ensures that all necessary steps have been taken. Once the court approves the final account, the estate can be closed, and the intestate succession process will be complete.
In conclusion, starting intestate succession involves several steps, including determining if it applies, identifying an executor, filing a petition for probate, notifying heirs and creditors, inventorying and appraising assets, paying debts and taxes, distributing assets to heirs, and closing the estate. Understanding these steps can help you navigate the complex process and ensure a smooth transition for the deceased person’s loved ones.
