What happens to your assets if you die without any family/will?
In: 21
This question cannot be satisfactorily answered without knowing the jurisdiction. Inheritance laws across the world could be diametrically different. As this sub is not country-specific, we need to take a more global view.
Here in Belgium, if they absolutely cannot find any heirs, then your assets simply go to the state.
If they can find heirs, but they all refuse the inheritance (a rare occurrence but it can be a valid smart way of handling an inheritance if there’s negative net value), then it also goes to the state.
Here in Belgium, if they absolutely cannot find any heirs, then your assets simply go to the state.
If they can find heirs, but they all refuse the inheritance (a rare occurrence but it can be a valid smart way of handling an inheritance if there’s negative net value), then it also goes to the state.
In my country it becomes his estate and pay off debts then the remaining is given to his spouse and legitimate and illegitimate children. Wills are not honored here.
In my country it becomes his estate and pay off debts then the remaining is given to his spouse and legitimate and illegitimate children. Wills are not honored here.
Everyone has relatives if you look far enough, but most states stop looking if the don’t find any descendants from the grandparents or great grandparents of the deceased and simply take the stuff, auction it off and add to state budget.
And if all the relatives refuse the inheritance because of debts then the creditors are shit out of luck, because the state generally doesn’t take the debts.
Everyone has relatives if you look far enough, but most states stop looking if the don’t find any descendants from the grandparents or great grandparents of the deceased and simply take the stuff, auction it off and add to state budget.
And if all the relatives refuse the inheritance because of debts then the creditors are shit out of luck, because the state generally doesn’t take the debts.
If you actually have no line of beneficiaries it’s called an escheat and the state will take it and auction/sell it all off.
If you actually have no line of beneficiaries it’s called an escheat and the state will take it and auction/sell it all off.
It’s HEAVILY dependant on local laws. But generally there’s a government law somewhere that specifies the order that people inherit. Often these laws do not work the way that people “think” an inheritance should work. For example, it’s common for everything to go to your eldest child, not be split evenly among your children. Depending on how archaic the laws are, it might even be your eldest male child.
Really the best plan is not to die without a will. Just buy one of those stupid will kits and fill in the blanks, it’s much better than nothing.
Latest Answers