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10 Most Common Questions About Drafting a Will

March 4, 2020 · Personal finance

What happens if I die without a will?

If you want to ensure your wishes will be followed, don’t put off writing a will. Otherwise, it’s very likely that a stranger will be appointed to administrate your estate.

Here’s why: if you don’t leave a will behind, you’ll become interstate, meaning that your estate will be managed based on your state’s laws in this regard. Keep in mind that the process through which your estate will be transferred to your rightful heirs is known as probate.

Since you haven’t appointed an executor, the state will name an administrator to go over these proceedings. This will very likely be a stranger who will be unaware of your family’s history and your wishes, so they will need to follow the law.

Working with a lawyer is also crucial since if your will is deemed invalid, this will also call for an administrator to be appointed. Requirements for a valid will vary from state to state.

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