A common reason for why many people fail to make a valid will is their belief that their state's intestacy law will take care of things for them. It is a correct assumption, as far as it goes, that if a person dies without a will the decedent's property will be distributed to their families. What most people don't consider is the flip side to this — everyone in the family gets a predetermined share of the pie (even if such a distribution may not be in accordance with the family needs at the time death occurs). If the individual lives in a world where his or her bequest wishes align with the generic nature of intestate succession rules, then indeed this could be a viable planning approach. Rarely, though, do people fit this profile. Click here for an example of how property might be distributed under a typical state's intestacy law.Back to Top | Next
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