In Florida Probate Litigation,What Does Dying “Intestate” Mean?
In Florida trust and estates litigation, what does dying intestate mean? Why should I try to avoid dying intestate? What happens to my Palm Beach property? Is all of my Palm Beach property effected? What is subject to intestate succession laws in Florida? What can I do to protect my estate Delray Beach?
Dying Intestate
- Probate lawyers know that an intestate estate in Palm Beach is any part of a decedent’s estate that is not effectively disposed of by a will in Florida.
- In other words, dying intestate means that you died without a Florida will?
- If I did not have an estate planning lawyer West Palm Beach create a will with me, what happens to my Florida property?
- Who inherits under Florida Intestacy Laws?
- What do they inherit?
- Click here to read Chapter 732 of the Florida Statutes, and learn more about Florida intestate succession and Florida wills.
Property that passes intestate
- Many assets will not be subject to intestate succession.
- This is because only property that would have passed through your Florida will, property you owned alone, will pass intestate.
- What assets will not be subject to intestate succession?
- Property transferred through a living trust
- Life insurance proceeds (since you name a beneficiary)
- Funds in an IRA, 401(k), or other retirement account
- Securities held in a transfer upon death account
- Payable on death accounts and
- Property you own with someone else in joint tenancy or tenancy by the entirety.