What is the term for the legal rules governing the distribution of assets when there is no valid will?

The correct answer is the term "Descent and Distribution." This refers specifically to the legal framework that determines how a person's assets will be allocated among their heirs when they die without a valid will. When no will exists, the laws of descent and distribution guide the process, specifying who inherits the assets and in what proportions based on the relationship to the deceased.

Understanding descent and distribution is crucial because it ensures that assets are distributed according to the law, rather than leaving the matter to chance or personal dispute among family members. Each state has its own intestacy laws, which outline the hierarchy of heirs and may include spouses, children, parents, and others.

Probate is a related process that involves the court overseeing the administration of an estate, but it encompasses more than just the distribution of assets. Intestacy refers broadly to the condition of dying without a will, which triggers the descent and distribution rules but does not encompass the broader procedural aspects of how the estate is handled. Estate planning focuses on the strategies used to manage an individual's assets during their life and after their death, often involving the creation of wills and trusts to avoid intestacy scenarios.