Intestacy
Explore how intestacy laws affect asset distribution when there is no will and understand their implications in estate planning.
How does intestacy affect the distribution of assets?
Intestacy occurs when someone dies without a valid will, leaving the distribution of their assets to be governed by state intestacy laws. These laws vary but typically prioritize relatives like spouses, children, or parents, potentially overlooking other intended beneficiaries. This situation highlights the importance of proactive estate planning, as having a will or trust can ensure your assets are distributed according to your wishes, rather than default legal provisions. It is often used in planning to avoid unintended consequences for your heirs and maintain control over your legacy. Remember, this is general information and not legal advice.
