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What are Intestate Succession Laws?

What are Intestate Succession Laws?

It is always better to prepare in advance and have a will in place if something were to happen to you. However, Florida has laws on the books that provide more certainty if a person dies without a will. Nonetheless, your family would rather not be in a position of needing these laws.

Intestate succession laws will determine who inherits property when someone does not have a will. Oftentimes, these laws would not even apply to much of your property. For example, assets such as retirement accounts and life insurance proceeds do not go through the court. So long as you have designated beneficiaries, they will receive the property directly from the institution that holds the assets without the need for court intervention.

Property Shares When There Is No Will

If you have a spouse and no children, there is an easy answer; the spouse receives everything. The same is true if you have children but no spouse. The children will each receive an equal share of the entire estate. If you have children and a spouse, each will get half of the estate. The children will receive equal shares of their half. Adopted children and those who were born outside the marriage (so long as paternity was established) can receive their share of the property.

Regardless, it is better not to be in this situation in the first place. Executing an estate plan that includes a will or trust can put your preferences into motion, even after you are no longer here. You just need to complete the process, and an attorney can help.

Call a Boca Raton Florida Estate Planning Lawyer

At Rubino Findley, PLLC, our Boca Raton Florida estate planning lawyer will work with families just like yours that want to pass wealth down. Fill out an online contact form or call us today at (561) 781-8250 to speak with an experienced attorney.

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