What Happens If You Die Without a Will?
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Transcription
What happens if you die without a will? That is a problem that we see often, unfortunately, and that basically means that the family doesn’t have a plan as to what will happen upon a person’s death with regards to their assets. Maybe with regards to their family. Minor children.
Obviously when there’s no plan, there’s no peace and there’s a lot of scrambling around for the family. Worse case scenario, they weren’t dependent upon some default rules that exists here in Illinois. Those rules generally benefit the family but sometimes they end up in results where maybe a second spouse or kids from a different marriage receive assets.
The bottom line though, is we want to make sure that there’s a plan in place so that your family could have peace if something were to happen to you, and we need to transfer assets upon death.