When you or your loved one fails to write a Last Will and Testament of trusts, a probate court will direct how the assets pass to beneficiaries with intestacy laws. Intestate regulations divide an estate and transfer it to the heirs of the deceased.
You may find yourself navigating the complex intestate succession process alone—an often difficult and daunting feat. Schedule an appointment with a diligent probate lawyer experienced with laws of intestacy in O’Fallon for help with your case.
Intestate Succession for Inheriting Estate Assets
Not all estate property must go through probate. However, without a will, assets requiring probate must go through intestate succession. According to the Missouri Revised Statute § 474.010, surviving family members receive assets in intestate succession in the following manner:
- When there are surviving children but no spouse, the children inherit all assets and property
- When a surviving spouse exists but with no children, the spouse inherits the entire estate
- When a spouse and children live, the spouse automatically inherits the first $20,000, and then the courts divide the remaining assets equally between the spouse and children
- When a surviving spouse and children from a prior relationship exist, the spouse receives half of the estate, and the children divide the remaining balance
- When there are no surviving spouses or children, the estate passes to the parents and siblings
O’Fallon intestacy laws could require a family to sell property—including family property and heirlooms—to divide an estate equally; maintaining a valid and updated will is crucial for protecting assets.
State Intestacy Rules and Regulations
The intestacy laws in O’Fallon provide a formula for dividing an estate when someone dies without an estate plan or will. The statute determines who inherits property without accommodating exceptions or individual needs in a specific case.
Therefore, preparing a will provides countless benefits and protects loved ones after death. Other intestate succession statute guidelines include:
- Half relatives, such as a half-sibling, will receive half of the inheritance of a whole relative
- Immigration status does not affect intestate succession
- If spousal misconduct exists during the marriage without reconciliation, the surviving spouse may not be eligible to inherit from the estate
Another notable law of intestacy involves the required survivorship period. Surviving family members must outlive the deceased by a minimum of 120 hours to receive an inheritance under intestate succession. For example, if they die in an accident together, the assets will not pass to the beneficiaries’ estate.
Call a Qualified Attorney Today for More About O’Fallon Laws of Intestacy
Understanding the complex intricacies of intestate succession can be crucial to protecting your family’s future. Navigating the process alone can be overwhelming. At Polaris Estate Planning and Elder Law, our seasoned attorneys understand the laws of intestacy in O’Fallon. Let us alleviate your stress by handling the legal work and defending your rights under the statutes. Call today to schedule a consultation to discuss your situation.