What Happens if You Die Without Creating a Will or a Trust?

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.

Starting a Career in Estate Planning

Estate Planners guide clients through a very important decision making process. This includes the distribution of assets, insurance, and financial matters for a family upon one’s death. Your role guides all matters including life insurance claims, probate, trusts funds, and tax affairs. Knowledge and experience is vital in becoming an estate planner. You must have effective communication skills and legal knowledge to be successful with drafting wills, trusts, and other planning documents.

Some beneficial undergraduate degrees for estate planning are finance, accounting, management, tax, business, and law.  A concrete understanding regarding probate, tax law, and life insurance processes are vital to estate planning. You need the soft skills of communication, empathy, and a strong business sense to effectively work with clients and ensure their satisfaction.

Contact us to learn more and potentially start a career in this fascinating field of law. Our principal attorney, Elizabeth Tresp, is passionate about mentoring and supporting the practices of future attorneys.

Thanksgiving: Your Opportunity to Discuss Estate Planning

Tresp Law, APC believes that Thanksgiving 2022 can be your time to finally discuss your Estate Plan with the family. We want to give you a friendly reminder because we care about your future!

As Thanksgiving approaches, it is important to use this holiday as an opportunity to consider the future. Clear communication and coordination between family members regarding your Estate can help avoid disagreements and stimulate healthy decision-making.

Start the conversation thoughtfully and carefully because it can be a touchy subject. Create an atmosphere where everyone is relaxed, comfortable, and private. Points to discuss may be how assets will be divided, who you want to be your agent if you become incapacitated, or your wishes regarding burial or cremation. You might also want to address choosing a trustee. 

You should seek guidance from an attorney who has the legal knowledge and experience to help you draft your Estate Plan. At Tresp Law, APC, we prioritize our clients’ satisfaction and peace of mind during the Estate Planning process. Contact Tresp Law, APC to speak with an attorney and establish your Estate Plan today.