Some people are either reluctant to make a will or simply cannot find the time. If you die without a will in Georgia, “intestate succession” means that your closest relatives will inherit your assets. However, there are legal rules surrounding how any assets are divided.
Although in most cases the distribution of assets is straightforward, it can become complicated depending on the types of relatives who may or may not qualify under intestate succession. The following examples are just some of the common beneficiaries.
A spouse is usually entitled to all or a percentage of your assets. How much your spouse will receive is based on several factors. A spouse and descendants receive an equal share of intestate assets, but the spouse’s share may not be less than 1/3. If there are no qualifying children or grandchildren, the spouse inherits all qualifying assets.
Children that are legally considered yours under intestate succession include those conceived with a partner or spouse, adopted children, children conceived through artificial insemination, children conceived outside of a partnership/marriage and posthumous children. Each child that is considered legally entitled to a share of your assets will receive an equal amount.
Grandchildren will only receive a share of your assets if the qualifying parent is no longer living. As with all other aspects of intestate succession, these issues can be complex in nature. It is therefore recommended that you speak to a lawyer who has experience in wills and probate laws.
If you would like to learn more about intestate succession or any other subject related to leaving the assets in your estate to loved ones, call the offices of Stephen Hagler, LLC today. We are a compassionate law firm serving the people of Augusta, GA and surrounding areas.
Posted on behalf of Stephen H. Hagler, LLC