The Consequences of Passing Away Without a Will

Passing away without a will can present a scenario where your assets are going to be divided according to state law. Here are a few of the consequences of passing way without a will.

Custody

If you have small children, one of the biggest consequences is going to come in the form of deciding where your children are going to live. You are not going to have any say over where your children go because you did not complete a will. The state is going to evaluate the situation and put them in the environment that they feel would be best. 

Probate

Your possessions are going to be divided up according to what the probate court in your state has to say. Your probate court is going to refer to state laws when determining how to divide up your possessions. For example, there is a good chance that your spouse is going to get half of your estate while your children get the rest. If you do not have any children, the rest of your estate could be divided among your parents or your siblings. Your family is going to have to go through the probate process which can be very time-consuming and costly.

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