All information about Estate Planning Attorney
What happens if we don’t have an Estate Plan upon Death?
If you die without a will, then the intestacy laws of the state will decide on how your property including includes any bank accounts, securities, real estate, and other assets will be managed and distributed upon your death. All the property will be handled according to the state rules where it is located.
The marital status of the Person works a lot to handle the situation like if your single or married all the property will be distributed in a sharing form to your family members including parents, siblings, aunts and uncles, nieces, nephews, and distant relatives. If you don’t own property outside of your Home state then the intestacy laws will determine Dental Lawyer who will inherit your entire estate. So you need to understand the laws of your state to make the most suitable decision timely.
If you own property outside of your state then who will inherit all this property will be decided by the laws of two different states. They will make a result according to different sets of beneficiaries. In case of having the property in three different states then it would end up with the three different sets of beneficiaries. Most of the clients usually asked about what happens if a person dies with a single status?
It’s very simple to understand if you were single then all your property will be assigned to your Parents if they alive but in case if there are no surviving Parents at the time of death then the entire property will be divided into siblings and relatives like nieces and nephews. But if you are not single then the entire property will be going to your children’s. It would be best to speak with an Estate Planning Attorney who can give you details information about this particular concern.