Dying without a Will (Intestate)
KNOWLEDGE EXPECTED OF: CFP® Professionals Only
- Define partial intestacy.
- Explain risks of partial intestacy.
- Define preferential share when an individual dies intestate.
- Identify jurisdictions that have legislation recognizing preferential share.
- Identify the value of a preferential share for a jurisdiction that recognizes it.
- Identify whether a spouse or common-law partner may be entitled to a preferential share of an estate.
- Identify the prescribed distribution schedule for an estate in the jurisdiction where the deceased died intestate.
- Estimate the distribution that each party may receive from an estate when the deceased died intestate.
Glossary of Verbs (mouse over to see definition)
To state exactly the meaning of
To be aware of / to recognize and correctly name / to locate an appropriate resource
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
To note the similarities and differences between two or more things
To determine an approximate value for
To find the value using mathematics
To change from one form or purpose to another
To reach a conclusion or make a judgement through careful study
To give the meaning of / to construe or understand / to translate orally