What happens if you die without a Will in United States of America?
We humans always anticipate the future, and plan things. However, sometimes we may tend to overlook major legal aspects. Data suggests almost two-thirds of the United States of America (USA) adult population has no Will.
Let us first ask ourselves, what does a Will do? It ensures a smooth distribution of your assets. Right? Yes. But more importantly it ensures it is as per your Will. Ever wondered what lack of it could do? This article investigates complexities that could lie in case of death without a Will and how intestate succession varies from state to state in USA.
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What is intestacy?
Intestacy or an Intestate succession happens when an individual dies leaving behind his estate without a Will. In USA every state has its own established process for intestate succession which determines how a person's assets will be bestowed upon their spouse, children, parents and more.
Firstly, when a person dies without a Will, their assets are frozen by the court system until there is a mechanism in place as to how it is to be inherited by their legal heirs. The court will then apply its state intestacy laws to determine how the assets of the deceased are to be devolved. This process is time intensive and exhausting especially for the family members of the deceased person.
An overview of the intestate succession would be someone going to the probate court wherein then a representative will be appointed by the court to ensure smooth and just administration of the assets of the deceased. Here, the creditors shall be paid off first and then the remaining assets will be allocated to your heirs, remember the percentage of devolution of assets depends on ?and varies as per each state.
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Let’s see who gets priority over your assets?
?Normally the order of priority remains the same for all the states wherein the spouse is first in the line, who may also serve as the personal representative or administrator of the estate.
?Then the next in line are your children, grandchildren and others.
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?What are the consequences of not having a Will?
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What can you do to protect your legacy?
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To make sure your assets are devolved to your loved ones as per your will. Here are the steps you can take:
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Dying without a Will can only complicate things for your loved ones. It is wise to create a comprehensive succession plan so that you and your loved ones are safe from any contingencies. At Water & Shark Legal, we understand the complications and emotional pressure that can arise from not having a Will. Our expert attorneys guide you through the process of making a thorough Will and succession plan fitted to your specific needs and the relevant state laws. Our tailored legal advice ensures that your assets are duly protected, and your wishes are honored, providing peace of mind for you and your loved ones. For more legal guidance and personalized services, reach out to us at [email protected].