WILLS AND TRUSTS

What Happens If You Die Without a Will?

You don’t like thinking about your death any more than other people do. However, just because it is an unpleasant subject doesn’t mean it’s something you can avoid. Sometimes, people ignore putting together a will because they think that their children or spouse will automatically inherit property and money.

Sometimes, that might be true. However, when you don’t have a will, it doesn’t mean that your assets will go where you want them to go. One of the things you will certainly end up leaving behind is a lot of stress if you don’t have a will.

What Does the Will Do?

The will is a legal document that has clear instructions on what is supposed to happen to your estate. It includes all of the details on how it needs to be handled if you die or become incapacitated. The will contains your last wishes for what you want to happen with your belongings.

You want to be the one who has control over what happens with your belongings. You don’t want the courts to be in charge.

What If You Don’t Have a Will?

In the state of Illinois, if you die without a will, it is known as dying intestate. The intestacy laws will determine who receives the deceased’s assets if there is not a will in place. In Illinois, this means that they will go to your closest relatives. Types of assets that are included in these laws include property, retirement savings you own, and bank accounts. The laws are specific about what happens to your property when you die without a will.

If this happens, it’s important to know that those who survive you will not have any say. Even if you told someone that you wanted to give them some of your property when you passed away, it won’t happen if it’s not in the will. This can often cause fights between family members and friends.

Create an Estate Plan

The best thing you can do to avoid this type of problem is to get in touch with an attorney and create an estate plan. It’s better to do this sooner rather than later even if you are young and healthy. You never know what tomorrow could bring, so it’s a good idea to make sure you are as prepared as possible. It’s time to get your will and the rest of your estate plan in order. Contact the experienced attorneys at Bell & Shaw Law, LLC today to discuss your situation more fully.

Bell & Shah

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