What is the consequence of not having a valid will?

When an individual passes away without a valid will, the distribution of their property is governed by intestacy laws. These laws are established by the state to dictate how assets are allocated among surviving relatives. The specifics can vary by jurisdiction but generally prioritize close relatives, such as a spouse, children, or parents, followed by more distant relatives as needed.

In the absence of a will, the deceased person's express wishes are not honored, which is why intestacy laws come into play. They ensure that the decedent’s estate does not remain in limbo but is rather distributed fairly according to predetermined legal guidelines. This system exists to provide clarity and structure, preventing disputes among potential heirs regarding how the estate should be handled.

The other options do not accurately reflect the consequences of dying without a valid will. Simply stating that property would be distributed based on the wishes of the heirs disregards the legal framework created by intestacy laws. Claiming that all property is transferred to the state is also incorrect, as states typically have a hierarchy for heirs before property escheats to the state. Lastly, while debts are settled through the estate, that process is separate from how the remaining assets are distributed after debts have been addressed.