If you have not executed a legal Last Will and Testament at the time of your passing, the state will declare that you have died “intestate” and will look upon the “intestate succession” laws to determine who gets your assets.
It might not sound so terrible if you know that the laws of succession will include your spouse, children, parents, and siblings as beneficiaries of your estate.
But what if your children are minors? What if your parents predeceased you? What if you don’t want your siblings to share in your estate?
Not leaving a Last Will and Testament, and relying on the laws of succession, could potentially leave your beneficiaries in a bind as they begin to navigate the world of probate.
Since minors cannot inherit under the law, a court-appointed Guardian would be needed for the child and his/her inheritance.
It could cost your estate quite a bit of time and money to ensure that your assets go to your children.
Likewise, without a will, there is no way to stop your assets from going down the family line and ending up with siblings or other distant relatives.
If you want to reserve control over your assets and designate where your assets will go after death, a solid estate plan is necessary. Contact our office so we can put together a plan that gives you and your beneficiaries peace of mind.
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