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If you die without a will but there have been other estate planning steps taken, it may not matter that you have no will. Your assets will transfer via trust administration and using the other mechanisms that you set in place for transfer. If you die without a will and you die without having made plans to distribute your assets, then intestate succession laws will apply to determine what happens to your property. These default laws aim to make certain that your assets appropriately transfer to your close relatives. Find out more here about what happens if you die without a will.
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Intestate succession occurs when someone passes away without leaving a last will and testament or otherwise making an estate plan. There must be some way to make informed decisions on how the assets of the deceased person will transfer under these circumstances, so intestate succession laws dictate how the property transfers. These laws provide details on how money and property should be divided among close relatives, depending upon who the surviving family members of the deceased person are. You can learn more about intestate succession here.
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If you and your child’s other parent pass away before your child reaches adulthood, you need to make sure you have chosen an appropriate person to raise your child. You should do this by naming a guardian for your child. It is important to carefully consider who you believe can be an appropriate guardian. Think about their ability and willingness to raise a small child as you make this decision. Learn more here about your choice of a guardian and your children’s future.
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These questions are just a few of the queries that you may have when it comes to making sure you create a proper and comprehensive estate plan. An experienced Vermont estate planning attorney can provide you with invaluable assistance in assessing your specific situation and making a plan that works best for you and the people you love.
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The importance of Advanced Directives and Powers of Attorney during the COVID-19 pandemic.
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Contact Us
If you have additional questions, contact the experienced Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC by calling (802) 879-7133 to schedule your appointment today.