Which legal term refers to the process of dividing an estate when there is no will?

Prepare for the Illinois Broker Reciprocity Exam. Use flashcards and multiple-choice questions complete with hints and explanations. Ace your exam!

Intestate succession is the legal term that describes the process through which an estate is divided and distributed when a person passes away without a valid will. In such cases, state laws govern how the deceased's assets are allocated among surviving relatives. These provisions vary by jurisdiction, but they generally aim to distribute the estate fairly to the heirs based on established familial relationships.

By contrast, probate refers to the overall legal process of administering a deceased person's estate, which often occurs whether there is a will or not. Testate succession specifically refers to the distribution of assets when a valid will exists, outlining how the deceased’s wishes should be carried out. Trust administration involves managing a trust and distributing its assets according to the trust's terms, which is also separate from intestate succession. Thus, the focus on intestate succession effectively captures the scenario where there is no will, making it the most accurate choice.

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