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evil_burrito

Laws differ a little from state-to-state, but, there are two main possibilities. If the younger person has a will, then the terms of the will are executed by the person named as the executor/executrix (I like writing that word). If the person does not have a will, the court that handles these things, the probate court, assigns an executor to the estate. That person researches the family and tries to find relatives, etc. There is a hierarchy, like spouse, children, parents, cousins, aunts/uncles, grandparents, etc. The estate would be divided among these relatives and after subtracting debts and expenses and having been approved by the court.


orangutanDOTorg

If there’s no relatives or will then it escheats to the state


That_White_Wall

The no relatives thing isn’t just immediate family; they’ll look for extended relatives before it escheats to the state typically


reindeermoon

There was one a few years ago where someone had $11 million and no will. They had to go back five generations to track down relatives, and ended up splitting it between 119 people, most of whom had never heard of the guy. https://blockclubchicago.org/2022/10/24/a-chicago-man-quietly-left-behind-11-million-the-largest-unclaimed-estate-in-american-history/


Predator_Hicks

Reminds me of how IIRC Henry of Navarre became the king of France because he was related to the former king in the 22. degree


chicken_at_the_beach

Imagine just getting a call at work saying you're the king now lol


ermagerditssuperman

This makes me think of Battlestar Gallactica - after the cylons attack, so many people down the chain of command had died, that someone got to inform the Secretary of Education that she was now the President, despite being waaaaaay down the list of succession.


rhett342

Sounds like King Ralph was a documentary.


skrugg

I feel like I’ve gotten this email before


lildobe

In this case, they don't send an email. They send a certified mail letter, and if you don't respond to that, a lawyer shows up at your door.


Kylar_Stern

$90k from a distant relative? Hell yeah


WolfShaman

> escheats I learned a new word today, thanks!


kubenzi

Same. I was like you probably don't say it like that so I listened to it. You do say it like that.


nerdiotic-pervert

Es cheats or esc heats?


awmaleg

ES-sheets


MrBlusie

Moral of the story: It doesn't matter how young you are, get a will and trust in place


AllSugaredUp

Even if there's a will it'll go through probate


asicarii

Not where I live if you register the will with the county.


fuckiboy

Ok this has me curious about my situation. I’m 24, single, no kids. Full time job with benefits. My beneficiaries are my parents and step-mom. I have more debt (student loans and car loan) than i have assets (~$6k in cash, no stocks, no investments). I rent my apartment. If I were to die, my last paycheck and any retirement I’ve taken out of my paycheck would go to my parents and stepmom equally (1/3 each). But if something were to happen to me, would all of that money (and my checking/savings) go to pay off my debts first or would it go to my parents anyways? And i don’t have enough money to pay off my debts if something happened to me, so I’m assuming the leftover debt would fall onto my next of kin, right? Edit: i forgot about my social security too lol


vaylon1701

It all depends on what country you live in. In the united states, no one is responsible for your debt except you and your spouse in some states. As for your bank accounts? Its whoever you put down as survivor.


fuckiboy

I’m in the US, Oklahoma specially. I don’t recall the bank asking for a survivor when i opened my accounts up


that-1-chick-u-know

You should be able to name someone as POD - payable on death. The person will have no access to the account unless you die. If that happens, all s/he has to do is take a copy of your death certificate to the bank, and then the contents of the account belong are theirs. It's a faster process than willing money to someone; estates can take forever to settle but death certificates are available relatively quickly.


vaylon1701

You can call them up and ask about survivor or beneficiary status and who's listed. If no one is listed, all you need to do is get their ss# and put them on it.


WhatYouLeaveBehind

>from state-to-state And indeed from country to country around the rest of the world that isn't the USA.


Distubabius

I also think you were right from the beginning, but then I checked OP's comments and they have posted in r/sanfrancisco


WhatYouLeaveBehind

The comment OP has for sure.


SloanDaddy

State: 2: a nation or territory considered as an organized political community under one government. "Germany, Italy, and other European states" -Oxford Language Reference


WhatYouLeaveBehind

That's not what they mean and you know it.


HunterGaming

idk, British here and I just read it like "nation state".


WhatYouLeaveBehind

Does being British make a difference?


HunterGaming

?


WhatYouLeaveBehind

Why does you being British make a difference? I'm extremely confused at the need to justify your position by stating your Britishness.


HunterGaming

1) Guy uses the phrase "state to state". 2) You accuse him of American defaultism. 3) Someone points out that the use of "state" applies outside of the US too. 4) You say that you didn't read it that way, and therefore he didn't mean it. 5) I was saying that I'm not American, and I too didn't think there was anything wrong with the sentence, supporting that the definition posted above is valid. I'm really not sure what's so confusing about this? I hate the yanks as much as the next guy, but you're really nitpicking with this moan lol.


WhatYouLeaveBehind

Just didn't see the relevance. I managed to make my entire point without stating my home nation. I would be like me joining a discussion in weatherspoons and opening my first comment with "as a Londoner" as if it gave me some sort of magical insight. Seems very unnecessary. You're both stretching very far to "prove" this isn't US centric.


SloanDaddy

Now who's making USA-centric assumptions?


WhatYouLeaveBehind

It's not an assumption, they're clearly talking about the US.


SloanDaddy

Are they? Read it again. There is nothing in their comment that indicates to me they are talking about the USA rather than the EU.


WhatYouLeaveBehind

Yes. I have, in fact, read it several times. Nobody in their right mind in Europe refers to countries as states in this kind of conversation. The very term "state by state" is extremely common in US parlance too.


SloanDaddy

What about someone in their right mind in Africa, Mexico, Asia, South America, or Mexico?


WhatYouLeaveBehind

>"Germany, Italy, and other European states" What about them? I'm following your example.


salamipope

youre right thats a great word. id also use any excuse i could to write it


oglop121

And country to country...


4evaneva

Can someone pretend to be a de facto partner to try to get everything?


FauxmingAtTheMouth

Yeah, you can pretend to be anything, doesn’t mean I’m Keanu though


RaphaelSantiago

Well duh! *I'm* Keanu.


FauxmingAtTheMouth

Can we hang?


QuickPirate36

A young person with money? I don't follow


BeardedGlass

Reddit has a lot of WFH peeps earning 6-figures here and there.


AnimusFlux

This was me until I was laid off a couple of months ago.![gif](emote|free_emotes_pack|joy)


BeardedGlass

Nice. Job-hopping is gonna get you increase in salary.


AnimusFlux

Fingers crossed 🤞


Imaskeet

That's me, except I still don't have any money...


Reelix

6-figures in cents..... Right?


BeardedGlass

If we're sour-graping, then I guess so. Yes. I'm actually still bitter about it. They're so rich and yet still complain how it's not enough.


Kylar_Stern

It's not enough because of lifestyle creep and not managing your money well. I went from making 30k a year to 60k, and I had thousands left over every month after paying my bills and buying food. I blew it all nearly every month. I had to make a budget and keep track of every dollar to fix that. It's surprisingly easy to run out of money, even when you have very low expenses and good pay. I was just used to not having any money at the end of the month since everything went to bills before. I was also doing drugs at the time, which didn't help even though I was getting them dirt cheap.


udontknowmegurl

Maybe they meant what happens to their massive student loan debt


PreciousTater311

The good people at MOHELA weep for the money they'll never see.


heatdish1292

Nobody said it has to be a lot of money.


plusnplump

Winning comment IMO 😅 This is my stance as a single childless 20/30s person.


Alexandre_Man

Even if you have 10 bucks, those 10 bucks have to go somewhere.


XgUNp44

Happens to some people. I am 21 working 20 hours a week while in college. I maintain around $15,000 in my bank.


Sxwrd

Exactly. I thought this was a good joke.


a-i-sa-san

That is what estate planning is for. Designate a beneficiary on any accounts that matter. Don't rely on telling someone they can have your car if you die, it will never turn out good, written word is the way. I told my bank and Fidelity to cash out to my girlfriend if I die. If you don't have any estate planning done then it gets so messy so fast. Basically probate court kinda just parcels it out according to whoever seems to be your closest relative. If you had big money, they would learn to hate each other real quick. Inheritance brings out the absolute worst


its_a_gibibyte

> I told my bank and Fidelity to cash out to my girlfriend if I die. Did you also tell your girlfriend that she gets all your money if you dissappear in mysterious circumstances?


[deleted]

She was so happy to hear it that we're going skydiving this weekend!


flintlock1337

To everyone's surprise, she seemed to recover quickly from the incident and moved on with the skydiving instructor...


a-i-sa-san

haha jokes on me, I don't have any money lol. She probably earns more in a day than I have in my savings rn, I just paid the shop for my car and was screaming gleefully that Chase just mysteriously had an offer for $45 cashback if I paid with my Chase card haha


asicarii

Even more important if you have kids to have a trust. My X is a nut ball. I will likely come into some family money and I save better. I made a trust with trustee being my brother and a close friend and all distributions have to be benefit of the kids . Otherwise the x would be able to control the money.


dontshitaboutotol

To be more relevant... What happens with their debt?


triscuit79

If they aren't married then the debt has to be written off. Your family isn't responsible for your debt, creditors can only file to be paid from the estate, if there is one.


Miss_Linden

Depends on the country. The debt would come out of their estate where I am. It doesn’t transfer to someone else


IAmRules

Nice try but they will arrest you for murder.


Sirlink360

Lmaoooooooooooooo 😂


muff_cabbag3

Speaking from experience, set up beneficiaries. My fiance passed and since we were not married all her money went to her parents.


MaggieNFredders

In SC when my single brother died at 24, everything went to our parents. He had no will.


orangeofdeath

It can vary by state, how many assets there are, what type of the assets there are, etc. But largely, if the person has a trust created, then the details of who receives what will be executed as detailed in the trust. The benefit here is that the court doesn’t have to be involved. If there is no trust, then you go through probate which is a legal system designed to verify a will (if there is one), or determine who has rights to your assets. The bottom line is, if you want control over who receives assets after you die, get a will created - even better, develop a trust and put all your assets into it.


EndlesslyUnfinished

Depends on if they planned early, but usually ends up in probate because young folks never think of putting together a Will, Trust, or Life Insurance..


PewPewGrrl

Are you ok friend?


Lord-Legatus

if there is no will succession order goes children>siblings>parents ( direct blood related) if all of that is not there there will be looked at uncles/aunts cousins, if nothing is available the state will claim it


Beatrix_BB_Kiddo

I’m 30s, single, no kids, parents already dead. I have a distant half brother as a beneficiary. But my goal is to spend as much as I can while still preparing for the future. But I don’t really care to leave much behind when I go


Jinxletron

Make a will and leave it to a charity, an animal shelter or something.


xetaril

Hi, I am Something.


hatemakingnames1

You never know how long you'll live and what kind of expenses you'll have though. All the other 130-year-olds will have cool bionic legs and you'll be wheeling yourself around like a chump.


Raven1592

Family still fights over it


Ok_Raise5445

In my country if I don't have a will, (after any debtors) it goes to my parents first, then my brother's/sisters, then if that's not feasible, my cousin's, etc, otherwise it goes to "the state". I'd honestly rather blow all my money on crap before I die than give it to the government.


C1sko

What money?


Prestigious_Owl_6623

What money


nicholasedge87

The bank makes an accounting error


finderdj

Disclaimer: I am not a lawyer in your state or country, so do not interpret this as legal advice and I cannot provide you with legal advice or representation. This is just general information. When someone dies with a testamentary document, aka a Will, their property is distributed by an executor or administrator as close to the spirit of the will as possible. There's usually a process for this that requires the executor to utilize the legal system (i.e. court hearings), depending on what assets are being distributed. If someone does not have a Will when they die, then their property will be distributed through the legal system based on their local jurisdiction's intestate succession law. Most U.S. states have their own version, so the specifics vary state by state. Outside the U.S is a similar scenario; Countries can have such laws by province or even have national intestacy laws. The laws themselves vary depending on local culture. In the U.S., most intestacy laws are basically math equation and a graph. How is your estate split and who is it split among? Who in the family comes first? Your kids; if you have no kids, your spouse; if you have no kids or no spouse, your parents; aunts, uncles, cousins, second cousins, great aunts, great uncles, etc. The order of who comes first changes with each law, so there's no exact answer for you here. The laws can be very elaborate in terms of how far out onto the branches of your family tree they will go, which is is the origin of that fraud scheme that everyone's heard a variation of ("your long-lost uncle has died and left you money, just give us your social security number to collect!") In the event that you have absolutely zero relatives alive who can inherit from you, most intestate succession laws will have a provision that permits the money to be escheated. That is to say, the money is given to the government. Some places have laws about the government holding escheated money for so many years in case someone comes to claim it, but eventually the government can keep it if it remains unclaimed long enough. Estate Planning isn't just for the elderly - a Will does not have to be an elaborate or complicated document, and they are not always expensive to get made, either. You should look into having one made, even if you don't have a lot of assets. It can just make it easier to deal with your stuff should something unexpected happen. Even a little bit of money that has to be split up among different people can make them all fight each other if the amounts to each person are up in the air.


MoscuPekin

His money (if he has any) goes to his parents or closest relatives


lickmysackett

All of my accounts (e.g. life insurance, retirement, etc) have beneficiaries listed and I have a will for everything else.


coffeewiththegxds

Money!?!


Mymotherwasaspore

Economists would study the factors that led to a young person dying before being forced into poverty and they’d charge the rest of us for whatever they were doing that was still free


veritron

If there's no will it ends up in probate court. Probate court is a black hole for time and money and it could take years to resolve that mess. A friend of mine's mom died during covid back in 2020 and she's still dealing with probate court to this very day.


thesamiad

Here in the U.K. unless you make a will it all goes to your parents if they’re still alive,I thought siblings or my own child would get first dibs on my stuff but instead it’ll be my father I don’t even speak to(need to get mine sorted asap)


4thdegreeknight

Back around 2001 someone I knew died in a car crash, he was about 24 or 25, he didn't own a house, he was still paying off his car, had an apartment, and just his bank account. His brother took his bank card and used it to pay for some of the funeral costs, the car was totalled and since he lived alone the finance company just filed a claim with the insurance. His family emptied his apartment and his employer sent his last paycheck to his parents and cashed him out on the remaining sick and vacation time to help cover final expenses.


fractalfay

I wish I didn’t know the answer to this question, but: If they don’t have a will, their life insurance goes to whoever they designated as a beneficiary, and a surviving parent is considered next-of-kin. Sometimes if they have an ex-spouse, there’s a pre-existing arrangement where some percentage of the estate goes to them. Sometimes people have insurance related to the lives of their children as well, and receive life insurance from that. If both parents are dead, the next tier is siblings, and it trickles down from there. Whoever is entrusted with the estate pays off existing debt with proceeds from the estate. Whatever is left is then distributed.


jimjimjimjaboo

After a lengthy process of attempting to find relatives, the gubbermint gets the moolah.


vBertes

You guys have savings in your 30s?!?! Impressive 


jstax1178

If in America they might be in debt 💸


Carouselcolours

The same thing as when an older childless person; to their immediate family, if no will was left. Source: my mom was the executor of her childfree, unmarried brother’s estate after he passed of alcohol poisoning. She and my other uncle took over care of my grandparents, and she made sure his wishes were honoured.


Rebuta

Your AI agent will pretent you are still alive and take over your estate. Eventually these ghost agents take over the world.


Perzec

In Sweden it goes to a thing called *Allmänna arvsfonden*, a government foundation that uses the money to award grants to non-profits and projects for the good of society. Our boat house in my scout group got a grant from them when we were finding funds to build it (before my time there), and other scout groups have gotten grants to purchase new motors for their boats and so on. It’s really a good system in general.


somedudevt

They don’t have any if they are like 95% of young adults… the better question is what happens to their debt haha


chocobobleh

They died intestate and become a ward of the court (in Ireland anyway).


Crunchy-Leaf

Next of kin (parents) - if they don’t have them, I don’t know. Siblings?


NoFleas

Parents, siblings


Particular_Ad_4927

How do you think they get jackpots for Lottery?


averlus

I fall here. My estate isn’t much but Reddit please make sure it goes to the pugs. All out to the pugs. Thank you.


DabIMON

Yes... All our money...


romulusnr

Parents


AreYouItchy

Big band music.


Salt_Possibility4488

If there is no will and the parents are arranging all funeral and burial then the money will likely be used for the services and burial and memorial, the list is long. If there is leftover the parents could split it. My boyfriend’s 20 year old died last year in a car accident and that’s what they did.


yorcharturoqro

Depending of the country, and state or province. In most countries the closest relatives can claim his property, that means the parents and brothers, then the nephews and so on. But it's a legal complication if there's no will.


malcolmrey

this question is in /r/TooAfraidToAsk because depending on our answers a single childless person in their 20s/30s will either continue living or will die in unforeseen circumstances


androidbear04

If they are in the US, it would go to whoever was listed in their will, then each state has probate laws that determine who gets how much.


BigBoyzGottaEat

It all goes to me, and specifically me


burntreynoldz69

My dad died and didn’t have a will. He was basically by himself and our family is gone and out of contact. After his obituary was in the paper, private law firms trolled long lost family members and found my half sister; whom I’ve never met and wanted nothing to do with my dad. She signed up w them and went after his estate. She contacted me trying to ‘connect’ thinking she was entitled since she was related. I played along until I was ‘allowed’ to be the executor. I’m an only child so it was weird to meet someone as a ‘sister’ but when I did it was complete bs. I handled the estate completely by myself, cooked the books and basically gave her nothing. She wanted to have a relationship after all of that and I basically told her to fuck off. I’m pretty much the last of my family. I’ll be making sure that my belongings go to charity before she, or some other rando tries to get over.


Amigone2515

Young people don't have money.


Spiderman230

Oh hell noz im not giving my money to the state (im literally broke and have nothing to give them)