What Does Intestate Succession Mean?

If you have had a loved one who has died without having a will (or making other plans for their assets to be distributed), or if you have considered whether or not you need to engage in estate planning yourself, you might already know about intestate succession laws in Georgia. In short, intestate succession laws exist in each state under state law, and they determine how a person’s property is distributed upon their death when the person does not have a valid will or other estate planning tools in place for their assets to be distributed according to their wishes. Each state’s intestate succession laws are distinct to that state, and we can explain more about Georgia’s laws and what you can do now to avoid having these laws apply to your property.

Understanding Georgia’s Intestate Succession Laws

If you die without a will in Georgia, any assets you own that are not otherwise being distributed to loved ones or charitable entities via other means (such as through a trust, through a transfer-on-death deed, or through beneficiary designations) will be distributed to specific parties according to Georgia law. It is only assets that would need to go through probate for which Georgia’s intestate succession laws will apply.

Here is how Georgia’s intestate succession laws distribute a person’s assets:

Spouse will inherit everything if there is a surviving spouse but no surviving children;
Children will inherit everything (equally) if there is a surviving child or surviving children but no surviving spouse;
Spouse and children equally share assets if there is a surviving spouse and surviving child or children, but the spouse must receive at least one-third of the estate;
Parent(s) inherit everything if there are surviving parent(s) but no surviving spouse or children (as soon as there is a surviving spouse and/or child, surviving parents will not inherit anything); and
Siblings inherit everything equally if there is no surviving spouse, child, or parent (otherwise siblings do not inherit anything).

How to Avoid Intestate Succession Laws Applying to Your Estate

If you do not want your assets to be distributed according to Georgia’s laws of intestate succession, you will need to ensure that your assets can be legally distributed to beneficiaries of your choosing. In order to do that, you can do one, several, or all of the following:

Make a will and leave assets through a will;
Establish a trust and leave assets to be distributed through the trust;
Name payable-on-death beneficiaries for your bank accounts;
Create a transfer-on-death deed for your real estate;
Name beneficiaries in pensions and insurance policies.

Other options may also be available for ensuring that intestate succession laws will not apply to the distribution of your property.

Contact a Norcross Estate Planning Attorney

Nobody wants to have their property distributed according to the laws of intestate succession. These laws are in place in the event that a person dies without going through a proper estate planning process with an attorney, but under ideal circumstances, no assets should be distributed this way. It is best to speak with an experienced Norcross estate planning lawyer at Bowman Law Firm to find out more about your options for leaving assets to your loved ones or to charities of your choosing. By working on an estate plan, you can give yourself peace of mind, and your loved ones will also have peace of mind knowing that intestate succession laws will not apply. Contact our firm today to find out more about how we can help you with all of your estate planning needs in Gwinnett County.

Source:

law.justia.com/codes/georgia/title-53/chapter-2/article-1/section-53-2-1/