When a person passes away with no Will, are his children the ones to inherit his bank accounts?
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When a person passes away with no Will, are his children the ones to inherit his bank accounts?
He left no Will but did have enough life insurance to cover all costs. His father and sisters filed paperwork and gained possession of the money in his accounts. No one else was named on the accounts or beneficiaries. They waited and cleared the 28 days; probate was not necessary because it was $8,000. Should the money of gone to his children/next of kin?
Asked on July 30, 2017 under Estate Planning, Michigan
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
When someone dies without a Will the laws of the state in which they were domicled when they passed controls just how their estate is distributed. Typically, it is to be split between the survivng spouse, if any, and the childeren of the deceased. A deceased's siblings would only inherit if there were no surving spouse, children or parents. Accordingly, from what you have written, you and your siblings may have a case. You should consult directly with a local probate attorney next.
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