What is intestate succession?
Intestate laws dictate what happens if you die without a will, and intestate succession refers to how your assets are transferred upon your death. The court will determine the distribution of your assets, and the order in which they will be passed on to your relatives. The court may also appoint an executor who’s’ responsible for repaying debts and liquidating assets.
The laws vary across the country, and are based on the state the deceased resided in. In most states, the surviving spouse inherits most or all of the assets — even if the deceased has living parents or siblings.
Intestate succession doesn’t apply to some property types, including life insurance proceeds and deeds.