Tuesday, July 17, 2007

What happens if a person dies without leaving behind a spouse, children or parents?

In this situation, if his or her grandparents are still alive, the property will be shared equally between them, if only one grandparent is alive, then he or she takes all.

If no grandparents are alive, then the property will be given to brothers and sisters in equal share. If there are no brothers and sisters, then it goes to uncles and aunts in equal share. If there are no relatives alive, then the property goes to the government.

The Court require the trustee to give a personal bond to guarantee that in the event that he or she administers the estate improperly and losses are incurred, he or she will have to compensate the beneficiaries for the losses.

The advantage of having a written will is that all the above mentioned hassle will be avoided. Under the will trustees are appointed to deal with the distribution according to wish of the deceased person.

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