What Happens When You Die Without A Will
Everyone should have a Last Will and Testament. Most importantly, having a Will lets you determine who will be in charge of your estate and who will receive your assets when you die. If you die without a Will, assets in your name alone when you die will pass according to certain laws called “intestate succession.” This means that you will be letting state law determine who receives your assets. You also have no input on who will be in charge of managing your estate. One of the biggest misconceptions people have of what happens to their...
ESTATE PLANNING BASICS
Everyone should have their own estate plan documents. These include a Last Will and Testament, Health Care Proxy, Durable Power of Attorney, Living Will and HIPAA Authorization. In a Will you nominate the Personal Representative who will manage your estate. The Personal Representative’s job includes paying estate bills, settling any legal matters and distributing your assets as you directed in your Will. In a Will, a parent can also nominate a Guardian to care for and raise her minor children if something happens to...