Die Without a Will?
My late mother was convinced that if you die without a will, it all goes to the government.
I don’t know where that notion came from, but she wasn’t the only person who believed that.
If a person dies without a will, their estate is distributed in accordance with British Columbia’s “intestacy” laws. A person who wishes to administer the estate must apply to a Court in British Columbia to obtain a “Grant of Letters of Administration.”
The provisions of the Estate Administration act provide for such occurrences, and the current formula ( about to change later this year at an unknown date) is as follows:
If you die without a will Intestacy laws prescribe that the estate will be distributed as follows, in the listed priority:
- If there are no children and a spouse, the estate goes to the spouse.
- If there is no spouse and only children, the estate is divided equally among the children. If a child predeceases the parent, but leaves children (for example, grandchildren of the deceased person), then the grandchildren inherit their parents’ share of the estate.
- If there is a spouse and children, the spouse is entitled to:
(a) the first $65,000
(b) a life estate in the home
(c) household contents
(d) half of the residue if there is one child, or 1/3 of the residue if there is more than one child.
The remainder is divided equally among the children.
- If there is no spouse or children, the estate goes to the parent(s).
- If there is no spouse, children or parents, then the estate is divided between brothers and sisters. If a brother or sister predeceases but leaves children (the nieces and nephews), then the nieces and nephews inherit their parents’ share of the estate.
- Alternatively, the estate is divided between nieces and nephews.
- Alternatively, the estate is divided between the next of kin of equal degree of blood relation
– See more at: http://www.disinherited.com/blog/who-gets-what-when-you-die-without-will#sthash.Ipuiz1ff.dpuf