If There Was No Will
In this video, Atlanta Probate Attorney, Lisa Blackstone, explains what happens to the estate assets if the decedent died without a valid will in Georgia. This varies greatly among the states. Scroll down below the video to see the same information in her written article.
1. Here in our state, if you have one child, your surviving spouse will get ½ of your estate and your child will get the other half. If you have two or more children, then your spouse will get 1/3 and the remaining 2/3 will be divided equally among all your children. In other words, your surviving spouse will never take less than 1/3 of the estate, no matter how many children you have.
But, this can be a bad result for an older couple who has prepared for retirement and the survivor needs the entire estate for support. In this case, it does not seem fair that 2/3 of the estate goes to adult children who are self sufficient.
Also, if you have a deceased child who has children (grandchildren to you) then those grandchildren get their parent’s share. This is referred to as “per stirpes”.
2. If you have no children, then all assets go to the surviving spouse.
3. If you have no children and no surviving spouse, then all go to your parents.
4. If you have no children and no surviving spouse, and no living parents, then your assets go to your siblings.
5. If you have no children, no surviving spouse, no living parents and no living siblings, then your estate goes to your grandparents. (Well, if your parents are not living, it is unlikely that your grandparents are living!)
6. If you have no children, no spouse, no parents, no siblings, no grandparents, then your estate goes to your aunts and uncles.
Although there are further determinations, I will stop at this point because this should cover the vast majority of cases. Please be aware that there are other factors not set forth here, such as the effect of adoptions, half siblings, step children and so forth. I simply wanted to share the basics.
If you have any further questions call me, Lisa Blackstone, or another Atlanta probate attorney. If this information has made you realize that you should get your will prepared, go to my Atlanta Estate Planning Attorney site. There is a lot of information there about wills and how to get started.
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