Has your loved one passed away without leaving a valid will? Uniquely You Estate Planning, LLC (+1-603-770-9135) in Fremont can show you how to best handle intestate succession.
If your partner, family member, or friend has passed away without getting their affairs in order first, you may need the advice of a law firm like Uniquely You.
It recently published an article titled “How to Handle the Death of a Family Member Without a Will” to help more people understand intestate succession law and the responsibilities of a personal representative.
The law firm’s report emphasizes the importance of estate planning regardless of your age or health. It estimates that 33% of Americans have no basic will or estate plan set up in case of their passing, which may lead to issues with intestate succession.
Passing away without a valid will is referred to legally as “dying intestate”. In this situation, as the family or dependent of the deceased, you have to accept the decisions made by a judge in a probate court.
These state-dependent inheritance laws can vary greatly and become complicated. For example, inheriting property may fall under community property, common, or elective community property law.
The article recommends that you contact the previous financial advisor or legal representative of the deceased to ensure that there is no will on file. Alternatively, you may be able to find a safety deposit box or residential safe containing will paperwork.
This process may require that you submit a probate petition or have an executor appointed to handle assets. If no will is found or some assets are not addressed in the will at all, intestate succession laws can apply and you, as a close relative or spouse, may be selected as an executor to resolve your loved one’s estate.
Before accepting the role of the estate representative, you should consider the impact this could have on your day-to-day life.
If you’re not up to the task, Uniquely You’s team of experienced attorneys can support you as an executor in managing the estate, paying debts, and distributing property among heirs.
In addition to handling intestate succession law, the firm helps clients write and validate living wills and trusts that enable them to pass their financial and non-financial assets on to loved ones or charitable organizations of their choice.
If you want to learn more about Uniquely You’s estate planning services, schedule a free consult.