When a loved one passes away, their assets are typically distributed according to the wishes outlined in their will or estate plan. However, if they do not create one, the state will distribute its assets according to intestacy laws. These laws govern how property is inherited without a will, but unfortunately, they often fail to reflect the deceased’s true intentions or meet the needs of their family members. This process, known as intestacy, can lead to unintended consequences.
Who Inherits Your Assets If You Die Intestate?
Intestacy laws vary by state but typically prioritize close family members, such as spouses and children. In Pennsylvania, for example, if a person passes away with no spouse, their children inherit everything. The spouse inherits the entire estate if they have a spouse but no parents or siblings. When the deceased has a spouse and parents or children from a prior relationship, the distribution of assets follows a more complex structure that tries to approximate what the average person might have intended.
However, these approximations often fall short of the deceased’s wishes, especially in families with unique dynamics or in cases with multiple heirs. The law may not consider nontraditional family structures or specific wishes, which can lead to misunderstandings and conflicts among family members.
Can Intestacy Create Complications for Your Family?
Without a clear estate plan, disputes over asset distribution can arise, leading to delays and emotional strain for your loved ones. Pennsylvania’s intestacy laws may not fully account for children from previous relationships, leaving certain family members feeling entitled to different portions of the estate. This lack of clarity often heightens tensions during an already difficult time.
Moreover, the property will go through probate if no executor has been named. This court-supervised process distributes assets and can extend the timeline by months or even years, further delaying resolution for surviving family members.
What Happens to Your Debts If You Die Without an Estate Plan?
When you die without an estate plan, your debts don’t simply vanish. Instead, the appointed executor (if the estate goes through probate) or administrator will use your assets to pay off outstanding debts. In Pennsylvania, creditors have a set period to file claims against the estate. After settling debts and taxes, the executor will distribute any remaining assets to the heirs based on intestacy laws. If debts exceed the estate’s value, heirs will not receive any assets but won’t inherit the debt personally.
Protect Your Family and Interests with the Delaware County Wills and Estate Lawyers at Eckell Sparks
Estate planning is essential for anyone who wants to ensure their assets are distributed according to their wishes. The Delaware County wills and estate lawyers at Eckell, Sparks, Levy, Auerbach, Monte, Sloane, Matthews & Auslander, P.C. will help you create an estate plan that minimizes complications for you and your loved ones. Call us at 610-565-3701 or fill out our online form to learn more. We proudly serve clients throughout Delaware County, Chester County, and Montgomery County from our offices in Media and West Chester, Pennsylvania.