Throughout my years as a lawyer, I've noticed one commonality. Here’s the scenario: A beloved parent dies after a long illness. After a few days, the smoke clears and the children are suddenly left to deal with Mom or Dad’s Estate. Unfortunately, Mom and Dad never thought about making a will because they always thought that their possessions would just pass to their children automatically, but everyone is now realizing that that isn't necessarily true.
Cue the calls to my office.
I don’t mean to make light of such a difficult situation, but simply point out the importance of having a Will drawn up. The fact is, without a Will, when you pass away you are legally known as “intestate”. This means the fate of your estate depends entirely on the Court’s decision. What will occur is that the Court will hold a hearing to decide who the rightful heirs to your estate are and then decide accordingly. Unfortunately, this sometimes results in your estate not being split the way you intended.
How can you avoid this?
