22 Sep 2011
September 22, 2011

Dying Intestate

Estate Planning, Intestacy 0 Comment

Most people die without having executed a valid Last Will and Testament. Among the factors cited for the decision not to execute a will are: the legal fees associated; the reluctance to confront one’s own mortality; a general distaste of lawyers; the belief that a will is only necessary for those with large estates; and laziness. By not making a will, you are deciding to allow the intestacy laws of your state to dictate the manner in which your estate will pass to survivors. The intestacy laws are considered default rules for those who die without a will. The intestacy rules are applied rigidly, regardless of a survivor’s actual relationship with the decedent, sometimes with unexpected (and undesired) results. To read more about the intestacy rules and why you may want to consider making a will, click here.