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All states have a law known as the statute of descent and distribution. When a person dies intestate(with no will), their real estate, personal property and money go to their heirs according to this statute. In other words, the state makes a will for anyone who did not do so. A person who dies testate has a will stating to whom they wish their estate to go. But, before the heirs can take possession of all or any part of the decedent's (the deceased) property, the estate must be probated, and all claims against it must be met.
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∙ 15y ago
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What happens to your money when you have no kids or wife and you die?
You must have a will to distribute your money to whomever you chose, if you do not have one this means that you die intestate and your money will go to the government.
What happens to your money when you die in the UK?
If you die without having any relatives, and have not left a will - your estate goes to the treasury.
What happens if parents die and owe money to the government but the estate has no money?
The government is not going to get their money. They will have to be satisfied that there are no assets in the estate and that no one else got paid.
What happens when you die owing money for credit cards and utilities?
The debt is given to your closest relatives
What happens to my credit card debt after I die if I have a power of attorney?
If you have money or property - the bills will be paid. If you don't have any money the bills won't be paid.
If you die what happens to the money in your checking account?
It becomes a part of your estate and is used to pay off any debts. If there is any money left, it will go to your heirs.
If you predecease the person you named on your policy who will benefit when you die?
Predecease means you die before them, which would mean they get the money as you wished. If they die before you, the secondary beneficiary gets the money. It may revert to your estate at that point if no one is named. Your policy should have the specific clauses as to what and how succession happens.
What happens to monkeys bones when they die?
what happens to the monkeys when they die in the rainforest
What happens when you die from a hurricane?
You die
What happens to your money if you forfeit a deposit?
There will be no money in the account
What happens to my social security money if I die before I get to collect it and have no minor child or spouse?
They remain in the Social Security fund to be paid to other beneficiaries.
What happens if you die from cloud disease?
You die.
