Creating a will seems so unnecessary, especially if you do not have a large financial net worth. What’s the point? Well, regardless of the money or property you have, a will is a document that you should make a point to have. Dying without one will make things extremely stressful for your family. Even if your holdings are modest, designating people to take them is crucial to ensuring a smooth transition. In many cases, not having a will leads to a very lengthy legal process that makes a regular probate undertaking seem quick. Here are three things that may happen should you die without a valid will.
- The Funeral Arrangements
The way you intend to be buried, and pay for it should be something that you decide and not leave for others. You may have expressed these wishes in the past, but maybe you’ve since changed your mind. While your will is not the place to direct your funeral arrangements, it should be part of your estate plan. A will is just one piece in a comprehensive estate plan that sets out all details about how you want your final days handled and beyond. Instead of leaving the task of planning and paying for your funeral to loved ones, you should have it all hashed out along with your will.
- The Line of Heirs
When you die without leaving a will, you are considered as having died intestate. The court then starts proceedings to decide how your property gets disbursed. With no directive, it is now up to the court to figure out who your heirs are. Anyone related to you may file a claim in court. The closest familial relationship to you, a spouse or children, are considered heirs first. If you do not have any, the next step is parents and siblings. After this, the judge will field claims from others. The entire thing can have families fighting.
- The Deceased Wishes’
Finally, you may have a picture of what happens to your money and belongings after you die. However, when you do not express these in a will or other appropriate legal instrument, your wishes will not matter. Creating an estate plan with a will does not have to take up a lot of time or cost a lot of money. It will save your family hardship after your death, and for this reason, you should consider it.
You care a great deal about your family and what is best for them. Therefore, creating an estate plan, including a will, now should rank highly on your to-do list. It would be beneficial for you and your family to take some time and meet with an estate planning lawyer to get it done. You don’t want your family to experience any hardships or legal battles after your death. Be prepared and create a will.