Hello, and welcome back. In our previous blog post, our lawyers talked in detail about valid wills and what might happen should you pass without a valid will in place at the time of your death. Today, our lawyer in Raleigh NC is going to continue that discussion.
In our last post, we mentioned that without a valid will that documents your wishes and arrangements for distribution of property and belongings to your family and loved ones, you’ll essentially leave your estate to a probate court. Probate court will divide your estate as the law sees fit, giving property to surviving relatives, even if you never intended for certain relatives to have specific property or belongings. Worse, in some cases the government may receive your estate assets.
Because of various rules and guidelines the court must follow, the court pays any unpaid debts and death expenses first, then follows the legal guidelines. Whether or not you have children or a spouse alive, grandchildren or other relatives will determine how your estate is divided. If you have no surviving spouse, children or grandchildren, people whom you might never consider naming as a beneficiary might be chosen to receive your property and belongings.
It's important to understand that passing on without a living will might result in distributions that aren't your wishes. Making sure you leave your wishes in writing, through a living will and estate plan might be the only way to ensure that your wishes are followed.
For more information about the importance of a living will, be sure to visit back with us on our next blog post.
Contact Klish and Eldreth, PLLC, today, to make an appointment for a consultation to begin estate planning. There’s never a better time than the present to make sure your family and loved ones’ futures are taken care of through estate planning. Contact our lawyer in Raleigh NC, today, to make sure get started planning, soon.