27 Aug Intestate–Dying Without a Will–Headaches, Heartaches and Debt
Intestate is a legal term that means “not having made a will before one dies.” It often leaves heirs with expenses, headaches, and heartaches.
55% of American adults die without a Will
According to LexisNexis, an estimated 55% of American adults die without having prepared a will. Those who die intestate are leaving the administration of their estate to the state in which they live. Yet it is highly doubtful that 55% of American adults would answer “Yes” to the question of: “Would you like the government to control everything you own and make all of your financial decisions for you?”
Naming an executor to carry out your wishes–something the state will never do
In a Will, you may name a trusted individual as your executor, a person who will make critical decisions after you are gone, while following the guidelines of your Will. You may lay out your wishes regarding who is to raise your minor children, what is to happen if an intended heir passes away before you do, and who is to receive items of sentimental value. Among many other things, you may also bequeath some or all of your estate to a significant other to whom you are not married, something not always guaranteed to happen if the state is making the decisions.
If you’ve been procrastinating about creating your Living Trust or Will, call or come in to one of California Document Preparers’ three Bay Area locations to get started. We’re here to help.