Many people neglect to create a will during their lifetime. They just assume that their affairs will always be taken care of as they wish. The truth is, you have no control without a will in place; and, you will likely find that your true wishes aren’t respected. Take a look at the information below, to better understand what happens to your assets if you don’t have a will. If you have any questions, or if you’d like to create a will, contact an estate planning attorney.
If you choose not to create a will, 3 important decisions will be made for you. For example, your state’s intestacy laws will determine how your assets are distributed. Each state has its own laws in place as to how assets are divided among legal heirs; these laws were created to offer a fair and common way of distributing assets, but they may not follow everyone’s wishes. Your wishes may not match your state’s laws.
Once you die without a will, your affairs are handled in probate court; the probate court will appoint a guardian for your minor children and will also appoint an administrator to settle your estate affairs.
If you’d like to have full control over how your assets are distributed and want to make sure that the wrong people aren’t given an inheritance, then you need to take the time to execute a will. If you want to choose who raises your minor children and who has access to your personal and financial information, execute a will.
An estate planning attorney can work with you to make the planning process easier and less stressful. Take advantage of the ability to have full control over your affairs and don’t allow your state laws and the court to decide your personal business.