Dividing inheritance can be tricky.
In addition to what has been discussed in class, sometimes families will decide to use their own methods of distributing the inheritance. Some parents allowed their children pick out what they wanted via birth order. Others have drawn numbers out of a hat to decide who gets to pick what first.
However, this is contingent upon whether or not the parents left a will. So, what happens when there is no will?
According to the website Nolo.com, in New Hampshire, if there is no will the closest relatives will receive the deceased’s property under the “intestate succession” laws. These laws help determine who receives inheritance depending on how they are related to you and the circumstances.
However, one must survive 120 hours after the deceased family member, or be born and live 120 hours after birth to be eligible to inherit under the intestacy laws (hopefully the family doesn’t resort to greed and primal instincts…).
Ultimately, splitting inheritance is much easier with a will. Taking steps to ensure that possessions are evenly distributed is of vital importance.