Intestacy refers to the situation where someone passes away without leaving behind a will. In such instances, the distribution of your assets is determined by the laws of your state. You may not agree with their predetermined plan, but approximately 70% of Americans currently rely on it.
In the event of a person dying without a Will (intestate), the legislative body of your jurisdiction has already established the individuals who will receive your assets and the timing of their inheritance. Although you might not concur with their strategy, approximately 70 percent of the American population currently adheres to it.
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