What happens if you die without a will (intestate)?
In New York, if a person dies intestate (without a valid will), their assets will be distributed according to the laws of intestate succession. Under these laws, the assets will be distributed to the person’s closest relatives, in the following order of priority:
- Spouse without children: If the decedent was married at the time of their death without children, their spouse will be entitled to receive the decedent’s entire estate.
- Spouse with children: If the decedent had a surviving wife and children, the spouse would be entitled to receive the first $50,000 of the estate, plus one-half of the balance.
- Descendants: If the decedent had surviving children or grandchildren, but no surviving spouse, the children or grandchildren would be entitled to receive the decedent’s entire estate. If the decedent had more than one child, the children will share the estate equally.
- Parents: If the decedent had no surviving spouse or children, but had surviving parents, the parents will be entitled to receive the decedent’s entire intestate estate.
- Siblings: If the decedent had no surviving spouse, children or grand children, or parents, but had surviving siblings, the siblings will be entitled to receive the decedent’s entire estate. If the decedent had more than one surviving sibling, the siblings will share the estate equally.
- Grandparents and Great Grandchildren: If there are not other distributions available, the estate will either go to the grandparents of the decedent or the great grandchildren of the deceased’s grandparents. If the decedent had more than one surviving grandparent or great grandchild, the the grand parents or great grandchildren will share the estate equally.
It is important to note that the laws of intestate succession can be complex, and the distribution of a person’s assets in the event of their death may depend on a variety of factors. Of course, it is almost always advisable not to leave the disbursement of your estate to the statute and best to have a will. It is always a good idea to consult with an experienced attorney if you have questions or need assistance with understanding how your assets will be distributed in the event of your death.