What Happens If I Die Without a Will or Trust?

There are studies done periodically that are designed to shed light on the estate planning preparedness of people around the United States. Unfortunately, the results of these surveys are not encouraging. Most of the adults in the United States do not have a comprehensive plan in place. They say that the only certainties in life are death and taxes. Yet, most people are not prepared for something that is definitely going to happen. What would the outcome be if you passed away without a will or a trust? Under these circumstances, the condition of intestacy would result. When you die intestate, your probate property is distributed using intestate succession laws. Property That Passes Outside of Probate If you have a life insurance policy, the beneficiary would inherit the proceeds and probate will likely not be a factor assuming you carefully named the beneficiaries. If you have property held in joint tenancy, the joint tenant would assume ownership of the entirety of the property afte
http://www.norcalplanners.com/blog/estate-planning/die-trust/

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