What does it mean if someone dies intestate?

Prepare for the FBLA Securities and Investments Exam with questions, flashcards, and hints to enhance your knowledge and boost your confidence. Excel on your exam!

When someone dies intestate, it specifically means that they passed away without having a valid will or trust in place to dictate how their assets should be distributed. In such cases, the distribution of the deceased person's assets is determined by state intestacy laws, which typically outline a hierarchy of beneficiaries (usually starting with immediate family members). This situation can lead to unintended distributions and may cause disputes among potential heirs, as the deceased did not express their wishes regarding their estate. The focus on not having a will or trust is critical in understanding the legal implications of intestate death.

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