The people who are closest to you in terms of bloodline when it comes to intestate succession under Florida law.
Next of kin refers to those who are related by blood, marriage, or another legal link such as adoption. This relationship assists in determining who would receive a share of an individual’s inheritance under the laws of descent and distribution in the absence of a will. In this instance, the spouse is considered the next of kin. Inheritance rights apply to everyone who dies without a will and without a spouse or children.
Individuals who survive their relative may also have obligations throughout and beyond their relative’s life. For instance, if a person becomes incompetent, the next of kin may be required to make medical decisions on their behalf or assume responsibility for their burial arrangements and financial affairs following their relative’s death.
How is next of kin determined?
As per intestate succession, any individual deemed by law as a next of kin is eligible for an inheritance upon their relative’s passing. Such individuals are sometimes referred to as legal heirs. However, to be deemed a legal heir, you must be related to the party by marriage, blood, or adoption.
Per intestate succession laws, adopted children are considered the same as spouses and biological children, which means that they are entitled to receive a share of the inheritance when there is no will to speak of.
Needless to say, the opinion of all other parties, whether blood-related or not, is of no significance and will have no effect as to who will receive a share of the inheritance so long as there is legal evidence of their connection to the decedent before the time of their death.
The Importance of Determining One’s Next of kin
It’s essential to determine one’s next of kin as it’s practically all that’s left to go on in property distribution if you pass away without leaving a will. In certain situations, your chosen next of kin may have responsibilities to fulfill even while you are alive.
For instance, they may have to make critical medical decisions concerning your health if you are incapacitated or unable to do so for some reason. Other than this, you may need them to assume control of your finances. Since these are only a few possible scenarios, it’s crucial to have a clearly established next of kin to handle specific situations just in case.
Examples Of Viable Next Of Kin Beyond Surviving Spouse And Children
Whether you acknowledge it or not, your next of kin can extend far down your bloodline, especially if you don’t have any surviving spouse or children. Even though state laws vary, the following are common viable next-of-kin options for individuals without spouses or children to assume the role:
- Aunts and uncles
- Grandchildren
- Grandparents
- Nieces and nephews
- Anyone whom you officially name in any document
As per intestacy laws, those regarded as great generations, for instance, great grandparents, great-grandchildren, and even great uncles and aunts, are likely to inherit if the deceased has no immediate relatives. While this is a possibility, note that if the only available relative is a minor, the state will appoint a conservator to manage the assets left behind till the next of kin comes of age.
In accordance with next of kin laws, adopted children are not exempt from receiving an inheritance and have the same rights as the decedent’s biological children and other blood relations. In other words, all children of the deceased can expect to receive their fair share of the inheritance.
How do next of kin inherit property?
In a situation whereby the deceased didn’t leave behind any children or a surviving spouse, any of his or her relatives will be considered the next of kin and stand to inherit the estate left behind as well as other properties.
In a scenario where the deceased has no children, grandchildren, or further descendants, the line of succession for the inheritance is redirected to their parents. However, if neither is alive, their surviving siblings, nieces, or nephews are next in line to claim the properties left behind. This sometimes depends on the state’s laws and the court’s jurisdiction.
Do next of kin have responsibilities?
Stating one’s next of kin to a financial institution is simply not enough to cause an immediate transfer of properties to the intended beneficiary after death. Rather, it ensures that the specified individual is the first point of contact during the inheritance proceedings, and only after due consideration will they receive the property intended for them.
One important thing you have to consider before identifying your next of kin is whether they’re capable of making appropriate decisions concerning your health and possessions in case of an emergency or when you are no longer around to handle things.
In an instance whereby there is no will and the deceased failed to identify a next of kin, as per English law and the inheritance laws of most jurisdictions, the spouse of the deceased and their children inherit the estate and properties with the exclusion of all other parties.
Will A Next Of Kin Automatically Receive IRA Benefits And Life Insurance?
Usually, the method of designating the proceeds of a decedent’s retirement accounts, insurance policy, and IRA benefits differs from other bequeathable assets. This is because each of the above is quite different from monetary possessions or individually owned physical property and must therefore be treated accordingly.
Typically, the proceeds of a decedent’s life insurance, retirement accounts, IRA benefits, and so on are designated to the beneficiary listed on their policy and not necessarily a chosen next of kin or persons listed in their will.
Choosing a next of kin is of the essence when it comes to estate planning, as the chosen individual is the one who will oversee the management of your resources and properties in the absence of a will. Your chosen next of kin doesn’t have to be a spouse or offspring, so long as you trust a family member to make the best possible decisions.
In conclusion, understanding the concept of next of kin is important for a variety of reasons, especially when it comes to inheritance and financial matters. If you are unsure of who your next of kin is, or if you have any questions about the process of inheritance, we recommend reaching out to a legal professional or consulting with a company like Inheritance Advance for guidance.
« Back to Glossary Index
