What Happens When No Will Exists

FOR IMMEDIATE RELEASE
Harrisburg, Pennsylvania, United States of America (Free-Press-Release.com) January 26, 2012 -- Have you ever thought about what will happen to your assets when you die? Have you considered what each of your loved ones will receive? While it is never pleasant to think about death, it is quite natural to ponder how your loved ones will make due, especially if you have young children. By drafting a will, you can ensure that your wishes will be followed and your loved ones will receive the inheritance you have intended for them.

The importance of having a will cannot be stressed enough. It is the easiest and least expensive way to guarantee that you maintain control over how your assets will be distributed amongst your heirs. When no will exists, you will no longer have a say over who receives your property and assets. It is easy to see why this is less than ideal. However, what you may not realize is that not having a will can create several other problems which your loved ones will have to deal with once you are gone.

Don’t Leave these Decisions to the State

If you die before drafting a will, you are intestate. Under these circumstances, the distribution of your assets amongst your surviving heirs will be determined by state laws. This complicates the process, increasing the time and expense it takes to distribute your assets.

It is also highly likely that the state laws which govern the distribution of your estate will not align with your desires for how you would like your assets to be divided. This can create needless stress and aggravation for your family.

When you are intestate, the state will appoint someone to manage and distribute your assets. This person will receive a sizeable fee for performing these services. As a result, some of your hard earned money will be given to a stranger appointed by the state instead of going to your loved ones. By drafting a will, you have the ability to choose the person you would like to manage your estate. You can then select a person whom you trust and who would waive these expensive fees so that more money can be left for your loved ones.

Rights Forfeited When No Will Exists

If you don’t have a will, you forfeit several important rights regarding how your affairs will be handled. These may include:

• The ability to name an executor for your estate who will manage the distribution of your assets
• The ability to declare your desired legal guardian for your minor children
• The ability to choose the person who will be responsible for managing the money left for your minor children
• The ability to make special provisions for disabled heirs

• The ability to leave a portion of your assets to charitable organizations that you are affiliated with, if you so desire

You’ve worked hard all your life. By making the small time and monetary investment it takes to draft a will, you can avoid all of these issues.

For more information on the importance of having a will, please visit the website of Saidis, Sullivan & Rogers, serving clients in Central Pennsylvania.

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