What is defined as intestate probate?

Prepare for the CFP Estate Planning Evaluation. Utilize flashcards and multiple choice questions, each with hints and explanations. Ensure your success on the exam!

Intestate probate refers to the legal process that occurs when a person dies without a valid will in place. In such cases, the distribution of the deceased person's assets is handled according to the laws of intestacy, which vary by state. These laws dictate how the assets are divided among relatives, usually prioritizing immediate family members such as spouses and children.

In situations of intestate probate, the court appoints an administrator to manage the estate, as there is no will providing instructions for asset distribution. This can often lead to complexities and delays in settling the estate, as the court must adhere to the statutory guidelines rather than the deceased's specific wishes.

Understanding intestate probate is crucial because it underscores the importance of having a will to ensure that one's assets are distributed according to their desires rather than following a potentially undesirable state process.

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