If you believe you are a legal heir to someone’s estate, but that person has died without estate planning documents such as a will, you might not know what steps to take to claim your inheritance. The requirements for receiving assets or money that are left to you in such an estate depend on the laws of the state, whether there are other potential heirs and whether any assets are linked to beneficiary designations.
When someone dies without leaving a will or other estate documents, then the person is considered to have died intestate. Basically, that’s just a term for “without a will,” and intestacy estates are probated under the general laws of the state in question. Intestacy laws usually ensure that primary heirs, such as surviving spouses or children of the deceased, receive an inheritance under the estate. Depending on the situation, other family members such as step-children, grandchildren and siblings might also inherit something from an intestate process — especially if no other closer heirs are found.
Continue reading “What do You do if Your Loved One Died Without a Will?”
Too many single people don’t think that they need an estate plan. However, they should.
A complete estate plan doesn’t just designate how your assets will be distributed after your death. You can and should have documents in place that designate who will see that your wishes are carried out and manage your affairs if you become too incapacitated to do so.
You can also designate who will take care of your financial affairs if you can’t. This will help ensure that your wishes will be known and honored not just after death but if an unexpected illness or injury befalls you that leaves you unable to speak for yourself. That can happen to anyone at any age.
Continue reading “Why an Estate Plan is Essential for Single People”