Who are the legal heirs?
Dividing any sum of money among a set number of people, or heirs, can often be a very simple job. Even distributions that require multiple divisions by representation among the issue of deceased heirs are relatively easy to accomplish.
Anyone can easily determine that each of four heirs are entitled to a $125,000 share from a $500,000 intestate estate, but not before reviewing the deceased person’s estate and living relatives in comparison with the applicable laws to determine that there are only four heirs. While it is easy to divide any sum by any fixed number of heirs, knowing who is qualified to fit within that fixed number of heirs can be difficult. The exact definition of ‘legal heir’ relies upon factors such as a person’s date of death compared with that of the subject decedent and compared with that of other relatives, the date certain property was acquired, the number of prior marriages, the classification of certain property as real or personal, ownership of timber interests, and even the rights to mineral royalties.
Role of the Intestacy Evaluators℠
The first task of each Intestacy Evaluator℠ is working through the current jurisdiction’s applicable laws to determine which of the deceased person’s living relations are defined as an heir of the estate. This is done by presenting users with very simple questions that have just one possible answer. Each user answer is evaluated in comparison with all prior answers to determine what information must be obtained from the user next in order to determine the legal heirs by gathering the minimum information necessary.
The video below shows one possible scenario for a California intestate estate. Click here to read the facts of the estate shown by this video.
~ The Intestacy Evaluators℠ and the Federal Estate Tax Calculator also provide visual data displays like these: