What does it mean to die 'intestate'?

Prepare for the Metro Brokers Exam with flashcards and multiple choice questions. Each question is accompanied by hints and explanations. Get ready for your certification!

Dying 'intestate' refers to an individual passing away without having created a will to distribute their assets according to their wishes. This legal term indicates that there are no documented instructions regarding the allocation of the deceased's property and personal belongings after their passing. In such cases, state laws determine how the estate will be divided among heirs, typically following a clear hierarchy based on familial relationships. This process can lead to outcomes that might not reflect the deceased person's intentions, highlighting the importance of having a will in place.

The other options address different aspects of estate planning or probate but do not accurately define the term 'intestate.' Having a valid will, having an incomplete estate plan, or dealing with a will that is contested in court do not align with the definition of dying without a will.

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