Legal Question in Investment Law in California

If I were limited to a "yes" or "no" answer, it would have to be NO.

However, in certain limited situations, depending upon who else is around and alive to inherit, great-grandchildren would be in line to receive part of an intestate estate. This is all handled in the California Probate Code, e.g. section 6402, which covers a lot of the rules for intestate estates.

I note you have an out-of-state Zip code, so I'll also mention that as a community-property state, California gives substantial weight to whether property in an estate was "community" or separate property before the death. Community property generally goes entirely to the spouse or registered domestic partner of the decedent.

Generally speaking, families are better off doing estate planning rather than allowing the automatic rules take effect. This assures accurate distribution regardless of who is surviving at the decedent's death, minimum give-up to the tax collectors, and maximum avoidance of probate proceedings (if well done, of course).