A will is something that everyone should have. But it’s not something that everyone has at the time that they pass away. It can happen that a person dies unexpectedly, didn’t think they needed one, or just never got around to making one.
Almost 70% of Americans don’t have an up-to-date will. This means they effectively have no say over what happens to their assets after they die.
Dying without a will necessitates the need for what are known as intestacy laws. These are the laws that set out how a person’s assets should be divided in the event that that person has left no instructions themselves. If you’d like to learn more about what happens when a person dies intestate, read on to learn everything you need to know.
Why You Need a Will
One of the most common reasons people end up dying intestate is because they don’t see any need for estate planning in their lives. However, almost every adult can and should have some form of will in place. If you have children, a spouse, and any assets at all, creating a will can be of benefit to you.
Creating a will allows you to have control over what happens to your money or properties after your passing. If you don’t have anyone you’d like to have as a benefactor, you can leave your money to charity or a worthy organization.
It can be a mistake to not leave any instructions at all regarding how to should be distributed. If you’d like to discuss creating a will for yourself, the first step will be to speak with an attorney such as heardandsmith.com.
A Look at Intestacy Laws
When a person dies without a will, intestate succession laws will be used in its absence. These laws vary from state to state in America.
For the most part, however, intestacy laws will mandate that your assets should go to a spouse or domestic partner first, followed by your children if you have any. After that will be your parents, siblings, and extended family members.
The Role of the Probate Court
When a person dies with a will, the probate court’s role will be to authenticate said will and appoint an executor. If a person has no will when they die, the probate court will be used in a different capacity.
The court will choose a representative to act on your behalf, usually a spouse or a child. Once a representative has been named, the judge uses local state laws to determine how to divide up the assets. If nobody accepts the role of representative, the courts will name a public trustee to distribute your assets.
Dying Without a Will
Dying without a will can have an impact on those you leave behind, not to mention your legacy. Especially if you have a spouse or kids, it can be a good idea to make a will for yourself. For more legal advice and guides, see the rest of our content now.
