FINANCE
What happens if you die without a will? Who will inherit your money and properties?
Different state laws means it is impossible to say with certainty the law all at once but there is a basic process followed.
Organising a will is a necesity once you own some expensive assets. They prevent legal wranglings between family members which would undoubtedly turn relationships toxic.
So what happens if you haven’t prepared one and pass away?
In most states, if you are married at the time of your death and you die without a will, your spouse will inherit a significant portion of your estate, either the entire estate or a significant share, depending on whether you have children or other surviving relatives. Some states may have community property laws that determine how marital property is divided.
What is community property?
Most assets and income acquired by either spouse or partner during the marriage or domestic partnership are considered joint or community property.
If you have children but no spouse, your children will usually inherit your estate equally. If you have children from multiple marriages or relationships, the laws will determine how the estate is divided among them.
If you have no surviving spouse or children, your estate may go to your parents, and if they are deceased, to your siblings or their descendants.
In the rare case that you have no surviving relatives, your estate might escheat to the state, meaning the state becomes the legal owner of your property.
How does inheritance work without a will in California?
The laws governing what happens if you die without a will (intestacy laws) are based on the California Probate Code.
If you die without a will and you are married, your spouse will inherit all of your community property and half of your separate property. No surviving children, parents, or siblings means your spouse inherits your entire estate.
Surviving children, parents, siblings, and then grandparents are next in line if there is no spouse.
If the deceased has no identifiable relatives, their estate will escheat (revert) to the state of California.