And here I am thinking…
Does it matter what I leave behind? Does it matter who gets what I own?
I am not rich, why would I bother leaving the Will. I really don’t care what happens after I die.
What happens during the probate?
How can I avoid a probate ?
I have too many creditors.
Thinking of dying is very depressive. The older we get, the more depressive this subject becomes. Even with those in their young age, especially if they already built some assets and had children, accidents happen.
Human life is fragile. Our physical beings are limited in durations, our deeds survive us. But what happens with our assets, or the things we left behind.
When you die without a will, it means you have died “intestate.” When this happens, the intestacy laws of the state where you reside will determine how your property is distributed upon your death. This includes any bank accounts, securities, real estate, and other assets you own at the time of death.
More and more couples decide not to get married. Most recently, I had a client who lived together with her boyfriends for almost seven years. He accidentally his life, leaving her in turmoil, not only to take care of the funeral, but also dealing with a sad situation when his relatives came after the property that he owned and home in which she lived.
And now what…
Potentially devastating situation for the couples who are living together but are not married. Intestacy laws only recognize relatives, unmarried couples do not inherit the property of the other partner when one partner dies without a will. Unless there is a will which clearly states a person’s intentions when they die, the decedent’s property will be divided among relatives, depending on their relation to the decedent.