intestate


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Related to intestate: Intestate succession

Intestate

Describing a person who dies without a will. When an intestate person passes away, his/her assets are distributed to the next of kin and/or the state according to the law where the intestate person lived. It is important to note that courts do not take into account the intestate person's wishes in this circumstance.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

intestate

Of, relating to, or being an individual who has died without leaving a valid will. In such a case, the estate of the deceased is distributed according to the laws of the state in which he or she resided.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Intestate.

A person who dies without a will is said to have died intestate.

In this case, the probate court in the person's home state -- sometimes known as surrogate's court or orphan's court -- determines who has the right to inherit the person's assets and who should be named guardian of any minor children.

The process, known as administration, can be time consuming and expensive, and the outcome may or may not reflect what the intestate person would have wanted.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

intestate

Without a will. All states have laws specifying the rules of intestate succession, or who will receive property, and in what shares, when someone dies without a will. If there is no one to inherit,then the property escheats to the state.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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The commission noted Section 41 provides that rules of distribution where the intestate - the dead man - has left no lineal descendants shall be contained in Sections 42 to 48, "after deducting the widow's share if he has left a widow." A simple reading of provisions built in Sections 42 to 46 would reveal how the scheme envisioned therein is unfair and unjust, the commission said.
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