What Happens If Someone
Dies Without a Beneficiary?
April 29, 2022
A well-detailed estate plan helps provide specific instructions regarding how to settle a decedent's final affairs or distribute assets to beneficiaries. However, when a person dies intestate – without a will or estate plan – their assets will be distributed in accordance with the state's intestate succession laws. An experienced Florida estate planning attorney can help you understand what happens if someone dies without a beneficiary or estate plan and guide you through the probate process.
Eric H. Light, Esq. is dedicated to providing experienced legal guidance and reliable advocacy to individuals, families, and fiduciaries in probate and estate administration matters. He's available to discuss your unique circumstances and enlighten you about Florida's intestate succession rules. Also, Attorney Eric H. Light will walk you through every phase of the probate process and help you navigate crucial decisions. The firm proudly serves clients across Boca Raton, Florida, and surrounding areas.
When Someone Dies Without a Beneficiary
When a person dies without a beneficiary, he or she is said to have died intestate. To administer the decedent's estate, a process referred to as intestate succession will take over. In Florida, the state's intestacy laws will govern who inherits what asset when there's no will, beneficiary, or estate plan. The deceased person's estate and assets must go through the probate process.
The Probate Process
Probate is a court-supervised process that is usually needed to administer a deceased person's estate and settle the person's final affairs. The probate process involves:
Collecting and evaluating the decedent's assets,
Paying taxes and debts, and
Distributing the remaining assets to rightful beneficiaries and heirs.
Since the person died without a last will and testament or beneficiary, their estate assets will be distributed in accordance with Florida's intestate succession laws. You can learn more about The Probate Process in Florida here.
Florida's Intestate Succession Rules
Florida's intestate succession rules specify how to distribute a deceased person's property if the person died without a valid will. However, who inherits what will depend on whether the decedent is survived by children, parents, or other close relatives. Here's a brief overview of what happens to the decedent's assets according to Florida's intestate succession laws:
If the decedent dies with children but no spouse, the surviving children will inherit all their assets.
If the decedent dies with a spouse but no descendants, the surviving spouse inherits all their assets.
If the decedent dies with a spouse and descendants they had with their spouse, and the spouse has no other descendants, the surviving spouse inherits all their assets.
If the decedent died with a spouse and descendants they had with their spouse, and the spouse has descendants from another relationship, the surviving spouse inherits one half of the estate, and the descendants will inherit the other half.
If the decedent dies with a spouse and descendants from another relationship, the surviving spouse inherits one half of the estate, and the descendants will inherit the other half.
If the decedent dies with parents but no spouse or descendants, the surviving parents will inherit everything.
If the decedent died with siblings but no spouse, parents, or descendants, the surviving siblings will inherit everything.
Unfortunately, with intestate succession, the state will determine who gets what. To have total control over who inherits your assets or property, creating an estate plan is crucial. An experienced probate lawyer can enlighten you about the benefits of having an estate plan and help you draft vital estate planning documents.
The Importance of an Estate Plan
Here are some reasons why having an estate plan is important:
It helps you prepare for life's uncertainties.
It gives you complete control over who inherits your property or assets.
It helps protect your property, assets, investment, business, and interests.
It allows you to choose a reliable person as your personal representative.
It helps protect your minor children and make sure they are cared for.
It helps you make adequate provisions for your surviving family members.
It helps heirs and beneficiaries avoid or reduce gift, estate, and inheritance taxes.
It helps your estate avoid the expensive and lengthy probate process.
It protects your investments and assets from creditors and frivolous lawsuits.
It helps to avoid or mitigate conflicts and disputes between family members over asset distribution.
It ensures that you don't die intestate (without a will).
A knowledgeable Florida estate planning lawyer can explore your estate planning options and determine the right one that best suits you and your family's needs.
Wills
A will can be described as a legal document that provides detailed instructions about how a person's assets and property should be transferred to beneficiaries or disposed of upon their death. The person that makes and executes a last will and testament is known as the testator.
Trusts
A trust is a fiduciary relationship that allows a person (trustor or grantor) to appoint a third-party (trustee or successor trustee) who will help manage trust assets on behalf of the beneficiaries. A revocable trust is flexible, and its provisions can be changed, amended, or canceled by the grantor at any time.
How Attorney Eric H. Light Can Help
When a loved one dies without a beneficiary or estate plan, their estate and assets must trudge through the expensive and time-consuming probate process. However, Florida's intestate succession laws will determine who gets what, depending on whether you have a surviving spouse, children, parents, or other close relatives. A knowledgeable probate attorney can guide you through the entire probate process and determine the best way to preserve your family's assets.
Attorney Eric H. Light has the diligence, resources, and knowledge to help clients navigate complex estate and probate administration processes involving intestate succession. As your legal counsel, he can enlighten you about the state's intestate succession rules and determine who will inherit your deceased loved one's assets. Also, Eric H. Light, Esq. will work diligently with you and another family member to settle probate disputes and other issues peacefully and quickly.
Getting experienced legal assistance is crucial to avoid making irrevocable mistakes when going through such a difficult period. Contact Eric H. Light, P.A. today to schedule a simple consultation with a knowledgeable estate planning attorney. Attorney Eric H. Light can offer you the personalized legal counsel and reliable advocacy you need to navigate key decisions. The firm is proud to serve clients across Boca Raton, Florida, and surrounding areas.