Understanding Legal TermsUnderstanding Legal Terms


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Understanding Legal Terms

When it comes to mastering different jargon, legal terms can be just as long as they are confusing. Fortunately, understanding all of those legal terms doesn't have to be frustrating. I wanted to create an easy-to-read blog all about understanding legal terms and the legal process in general. After all, you never know when you will be called upon to face the court, which is why it is important to do what you can to understand the terminology. Check out this blog for great information that could help you along the way. You won't regret it, but if you don't know your stuff, you might not be prepared someday when you need it.

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What Do You Do When Your Deceased Parent Left No Will?

Your parent has died without leaving a will or intestate; and they have assets. What is the next step? Who gets what?

Estate Administration

The first step towards administering the deceased estate is to obtain "Grant of letters of administration" from the courts. This gives the administrator the authority to administer the estate.

An estate planning attorney will help you with this or you can do it yourself. The state will then appoint an administrator from among close relatives. The spouse will normally get the first priority, followed by an adult child. You'll present these documents to banks and other bodies as proof that you have authority to administer the deceased's estate.

Asset Distribution: Who Gets What?

When it comes to asset distribution, your state's intestacy laws will apply. As a general rule, only married or civil partners, children and close relatives can inherit your parent's estate. By and large, distribution of assets will depend on your deceased parent's circumstances.

Single with Children

If your parent was single, their assets will be distributed equally between their children. If one of your siblings had died and left children, their share goes to their children. For kids who are minors, the state will put their inheritance under a conservator and a guardian. The conservator manages their finances until they attain maturity.

Married with Children

If your parent was married and their children were the children of this spouse, then all the property goes to their spouse. If not, the spouse receives half the estate and the rest is shared between surviving children.

Unmarried Couples

If your parent was part of an unmarried couple, their estate is distributed among living relatives, starting with their children, if any.

Domestic Partner

Here, the law varies from state to state. Verify your state's laws. If your state recognizes domestic partnerships, then the domestic partner may have equal rights as a spouse.

As you can see, there are some specific laws to determine what will happen if there was no will found after a parent died. Consult an estate planning services attorney if you have questions about who will receive what. It's best to let the attorney handle the situation, since you wouldn't want to lay claim to part of the state and then find out that the property isn't legally yours. Once you turn over the state to an estate planning firm, they will sort everything out and distribute the assets legally.