Estate planning is highly recommended. In fact, it is absolutely essential to making sure your assets are protected after your death. You may be wondering, “What happens if I don’t have a will?” We receive calls all the time from clients asking about the benefits of estate planning. Here are some important things to know.
What Happens If I Don’t Have a Will? | Consequences
If you don’t have a spouse, it will be different in terms of what happens to your estate. Unmarried people will have their estate given to living parents. If there are no living parents, the estate goes to siblings and is equally divided.
If you are unmarried with no living parents, siblings, nieces or nephews, then your estate goes to family members on your mother’s side and your father’s side in equal parts.
If you have children but no spouse, then your estate will be given to them. If there are multiple children, the estate gets divided between them.
By not having a will, you leave all of this to be indiscriminately divided between your family. For most people, that is not what they would consider to be the best scenario.
The scenario looks similar if you die without a will but were married. Your estate goes to your spouse. Or it could be divided among your spouse, siblings, and parents if the estate is your separate property. If you had children in this marriage, then the entire estate goes to your spouse if they’re living.
Most people would like for certain people to get certain things when they pass. If you have any specific wishes as to what happens with your estate, then you’re going to want to set up a will.
Dying without a will means that you can’t give your granddaughter that pearl necklace you had when you were her age. It means you can’t pass down your grand piano to your musician nephew. Dying without a will means that everything you own gets split up and given to family without any rhyme or reason. Contact our Stillwater estate planning lawyers to make sure that this doesn’t happen.
Contact Murray Law Firm Today
Don’t delay. We are happy to hear from you. Give our office a call. We can guide you through each step. This can be made simple. Start the process by calling Murray Law Firm to consult with our experienced Stillwater estate planning attorneys.
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