Will or Will Not
Gallup’s latest polling finds less than half of U.S. adults have a will that describes how they would like their money and estate to be disbursed after their death.
If you die without a will, it means you have died “intestate”. When this happens, the intestacy laws of the state where you reside will determine how your property is distributed upon your death. This includes any bank accounts, securities, real estate, and other assets you own at the time of death. Real estate owned in a different state than where you resided will be handled under the intestacy laws of the state where the property is located.
The laws of intestate succession vary greatly depending on whether you were single or married, or had children. In most cases, your property is distributed in split shares to your “heirs,” which could include your surviving spouse, parents, siblings, aunts and uncles, nieces, nephews, and distant relatives. Generally, when no relatives can be found, the entire estate goes to the state.
Your Legal Resources plan covers your Will preparation and periodic updates. Your plan attorney will also help you with Advance Medical Directives and Financial Powers of Attorney. A Contingent trust for minor children is also a fully covered service.
Contact your Law Firm directly to make an appointment or reach out to a Certified paralegal in our Member Services Department for additional assistance.