When one passes without an established will or trust, your state’s probate laws consider you to be “intestate,” which means your estate will be administered in accordance with the state’s laws of intestate succession. These laws determine who will inherit property from your estate using a predetermined formula decided by the legislature. Every state utilizes their own form of probate code and intestate succession laws to decide who should inherit your assets. The probate court oversees the entire process. Through intestate succession, your “heirs at law” who are typically children, siblings, or any other close relatives of the deceased, will receive the distributions of your estate.
Do you want to choose how your estate is distributed, or do you want the state to decide for you? Because if you do not have a will or trust set up, your assets will not be distributed according to your wishes. Talk to a knowledgeable attorney who can successfully draft your plan according to your preferences. You will put your loved ones at ease as you minimize the probate process and its expenses, delays, and loss of privacy. Contact Tresp Law, APC to build your estate plan today and start planning your future.
