It is common for individuals to wonder what will happen if they do not write a will. In all honesty, failing to write a will can significantly impact what will happen with your assets upon your passing. With that being said, though writing a will is possibly the main document in the estate planning process, there is far more to a comprehensive estate plan than just drafting a will. Without a legally enforceable will upon death, you can expect serious problems, which is why you must draft one. Luckily, our dedicated PA wills, trusts & estates attorneys are on your side. Read on and reach out to our firm today to obtain the help you need during this seemingly overwhelming process.
What happens if I die without a will in my estate plan?
In the event that you pass away before constructing a will, there are many issues that will arise. First and foremost, you will not have an established executor to handle your assets and ensure they are dispersed as you would have wished. The court will then decide whether your spouse, children, or other family members are to be selected as your executor. When someone dies intestate (without a will), the process of intestate succession initiates. In most cases, only spouses, blood relatives, and registered domestic partners will inherit your assets upon passing, which means that friends, unregistered partners, and more will typically not be involved.
Will my children inherit my money if I do not write a will?
Most of the time, children’s inheritances are a complex matter when an individual does not write a will. Usually, legally adopted children, biological children, children born after the parent’s death, or children born outside marriage will automatically obtain inheritances. But, you will want to keep in mind that there are many instances where this becomes complicated, such as with foster children, children adopted by stepparents, and more.
Because of this, failing to prove guardianship in your will may also place the custody of your minor children in danger. If you pass away without appointing a guardian, it will be up to the courts to decide who should raise your child. Clearly, no parent wants to think about leaving their child’s upbringing in another person’s hands, but, wouldn’t you rather appoint someone you know will take good care of your child if you are ever put in that situation? Our firm recognizes how overwhelming the process can be, but know that we are here to help you each step of the way. All you have to do is give us a call today.
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Friedman Schuman is an experienced and dedicated legal resource for clients throughout Pennsylvania. We proudly serve clients facing a wide range of legal matters. If you require the services of an effective attorney, please contact Friedman Schuman today to schedule a consultation.