Results for tag: "Intestacy"

Intestacy is a legal term used to describe the situation when a person dies without leaving a valid will. In this case, the deceased's estate is distributed according to the laws of the jurisdiction in which the person resided. Intestacy laws vary from state to state, and in some cases, the laws of the deceased's country of origin may also apply. The intestacy market is a subset of the legal services industry, and involves the administration of estates where the deceased has not left a valid will. This includes the identification of heirs, the collection of assets, the payment of debts, and the distribution of the estate according to the applicable laws. Companies in the intestacy market include law firms, estate planning companies, and probate services. These companies provide legal advice and assistance to those dealing with the administration of an intestate estate. They also provide guidance to those who wish to create a valid will to ensure that their estate is distributed according to their wishes. Show Less Read more