Intestate

Intestate refers to someone who has no will, and therefore when this person passes away it means that there is no will that outlines how they wished their estate and worldly goods to be distributed.

Therefore their property is usually distributed by a legally appoinsted administrator in lieu of there being a direct will.

Related Articles

Finder's Fee
Collateral
Junk Bond
Merchant Bank
Lock-in period

More Financial Words and Vocabulary Explained