What Happens if Someone Dies Without a Will (Intestate)?
Intestate succession is a legal concept that every Pennsylvania resident should strive to understand, whether they want to create an estate plan in the near future or not. If you “die intestate” (without a Will), you should know how the courts will handle your assets and liabilities. Once you become aware of how this process works, you might realize how important it is to contact an estate planning lawyer in Pennsylvania.
What is Intestate Succession?
Intestate succession is a legal process followed by every state. It represents very specific steps the probate court will take when distributing your wealth to your relatives and loved ones. The key thing to remember about intestate succession is that it only occurs if you die without a valid Will. Since a Will is essentially a “set of instructions” for your estate, the court is forced to follow their own rules if you do not create one.
How Does Intestate Succession Work in Pennsylvania?
The basics of intestate succession in Pennsylvania are quite simple. If you pass away with a surviving spouse, they are likely to inherit most or all of your estate. If you and your spouse have children before you pass away, your children will also inherit a considerable share of your estate.
Aside from these basic facts, the details of intestate succession in Pennsylvania can be quite complex. One of the most notable aspects of Pennsylvania’s system is the fact that the surviving spouse always inherits the first $30,000 of the estate. This essentially guarantees that the spouse will receive at least something from an estate with assets.
You should also know that if the estate is only worth $30,000 or less, this means that your surviving spouse will inherit everything, even if you also leave behind children. In addition, your surviving spouse will inherit one-half of everything above that $30,000 threshold.
For example, you might die with $50,000 in your savings account and no other assets. If you fail to create a Will, your spouse will inherit the first $30,000 and one-half of the remaining $20,000. This will leave your spouse with $40,000, while your surviving children will only inherit the remaining $10,000.
So, while the phrasing of Pennsylvania’s intestate succession laws might suggest that your children and your spouse will divide most of your assets equally, this is not always the case. This highlights the need to create a Will to control how your loved ones will inherit your assets.
Contact a Pennsylvania Estate Planning Lawyer Today
Now that you understand what happens when someone dies intestate, you might realize how urgent it is to get started with an estate planning attorney in Pennsylvania as soon as possible. Even young individuals might want to avoid the issue of intestate succession, and this issue is even more pressing for those going through family changes like divorces, childbirth, or adoption. After learning about intestate succession, you might also want to have a conversation with your elderly parents. Whatever the case may be, Audi Law PLLC may be able to help. Contact us today at 717-707-5611 or online to schedule your first consultation.