This formula adjusts according to the unique make-up of your family and may see your assets given to siblings, grandparents, or nieces, nephews, or cousins.
Since this formula is defined by law, it is not easy to challenge. Your spouse might, for instance, be forced to share an inheritance with your parents or siblings, even if you were estranged.
How a Probate Attorney Can Help
An estimated 70% of Americans never write a will. However, a will can help you protect your loved ones from intestacy proceedings and ensure they get the legacy you wish to leave them.
Although wills provide a guaranteed escape from intestacy, they are not perfect documents: your assets will still be showcased in court. They will also be vulnerable to claims from creditors who could claw away assets you wanted your spouse or children to inherit.
An experienced probate and estate planning attorney can help you safeguard your life’s work. Depending on your circumstances, you may benefit from:
- A revocable living trust
- A life insurance policy
- A revisioning of your payable-upon-death accounts
- A reconsideration of your property holdings and how they are owned
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