The condition of an estate of an individual who dies with property valued greater than outstanding debts, but in which there is not a valid will present. Intestacy may also exist if an existing will does not cover an entire estate. In common law systems, property of an estate in intestacy will typically first go to a spouse, then to children and descendants.

Rules governing the succession of an estate in intestacy are typically laid out by the state in which the deceased lived, and may vary across the United States. Because of the complexity of this type of estate law, called intestacy law, individuals who want to determine who receives property from an estate, should ensure that they complete a will.

Investment dictionary. . 2012.

Look at other dictionaries:

  • intestacy — in·tes·ta·cy /in tes tə sē/ n pl cies 1: the state of dying intestate: an intestate state or condition the invalidation of the will resulted in her intestacy 2: intestate succession at …   Law dictionary

  • Intestacy — In*tes ta*cy, n. [From {Intestate}.] The state of being intestate, or of dying without having made a valid will. Blackstone. [1913 Webster] …   The Collaborative International Dictionary of English

  • intestacy — 1767, from INTESTATE (Cf. intestate) + ACY (Cf. acy) …   Etymology dictionary

  • intestacy — [in tes′tə sē] n. the fact or state of dying intestate …   English World dictionary

  • Intestacy — Intestate redirects here. It is not to be confused with Interstate. Wills, trusts …   Wikipedia

  • intestacy — Refers to dying without making a will. A situation where a set procedure is used to distribute your assets rather than how you wanted to. Financial Services Glossary * * * intestacy in‧tes‧ta‧cy [ɪnˈtestəsi] noun [uncountable] LAW when someone… …   Financial and business terms

  • intestacy — The status or condition of a person who dies without leaving a valid and operative will. Re Noble, 194 Iowa 733, 190 NW 511, 26 ALR 86. More precisely, the status of the estate or property of a decedent who dies without leaving a valid or… …   Ballentine's law dictionary

  • intestacy — intestate ► ADJECTIVE ▪ not having made a will before one dies. ► NOUN ▪ a person who has died intestate. DERIVATIVES intestacy noun …   English terms dictionary

  • intestacy — noun Date: 1767 the quality or state of being or dying intestate …   New Collegiate Dictionary

  • intestacy — /in tes teuh see/, n. the state or fact of being intestate at death. [1760 70; INTEST(ATE) + ACY] * * * …   Universalium

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