The 3 Things You Must Know About Intestate Succession

If you pass away without a will, or some other estate planning arrangement, then your assets will be distributed as per the state of Florida’s intestate succession laws.

Going over these laws, and speaking with an estate planning lawyer, will allow you to distribute your assets in the manner that you desire. 

What Is Intestate Succession? 

The definition of intestate succession is as follows: a legal process that comes into play when someone passes away without a will or another, equally relevant, estate planning arrangement.

If someone passes away without either of those, then their assets must be distributed according to the intestacy laws of the state where they passed away.

Just as an example, if you pass away in Florida, without a will, then your assets will be distributed based on Florida’s intestacy laws.

Outside of this fact, though, there are three more, very important, things you must know about intestate succession.

The 3 Things You Must Know About Intestate Succession 

01: Your Surviving Spouse Is The First In Line 

If you pass away in the state of Florida, and you don’t have a valid will, or any sort of valid estate plan, then your surviving spouse will be first in line for the assets in your possession.

Just as an example, if you own a car, a home, and a computer, then your spouse will likely get most of that. Your children will get some of it, too.

On the other hand, if you have a spouse, but do not have any children, then your spouse will get everything in your possession. 

02: Your Step-Children Will Get Nothing 

The intestate succession laws that govern the state of Florida do not include step-children.

Given the fact outlined above, if you pass away in the state of Florida, then your step-children will get nothing. That is, unless you develop a will, or some other form of estate plan, that includes them and your wishes for them.

Even though the above is true, if you have biological children, then those children will receive some of the assets that comprise your estate. This is also true of children you have adopted; they may not be your biological children but, if you adopted them, then they are legally entitled to some of what you own.

The same is true of grandchildren: if you have grandchildren, but no children who are currently alive, then those grandchildren will inherit some of what you own. 

03: Your Parents, Or Siblings, May Receive What You Own 

Many people pass away without children, or a spouse.

If the above occurs, then one of the following will receive what you own: your parents or, if your parents are no longer alive, your siblings.

Just as an example, if your parents passed away, but you have a brother, then your assets will go to your brother.

The same is true, even if you have multiple siblings; your assets will be distributed to each one of your siblings, in a manner that is fair and equal.

Speak With A Florida Estate Planning Lawyer Today 

If you pass away without a will, then you cannot control where your assets go, or who they are given to.

Speak with a Florida estate planning lawyer at Millhorn Elder Law Planning Group today and we will assist you in developing a proper estate plan that satisfies your wishes, goals, and intentions.

Sources: 

law.cornell.edu/wex/intestate_succession

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html