Estate Planning FAQS: What Happens If I’m Single When I Die?

When people ask questions about estate planning, they sometimes harbor misunderstandings with regard to control. To a very large extent, you have control over the way that your resources will be distributed after your passing. The only way that you lose control is if you do nothing. Lack of Planning If you die without executing any estate planning documents at all, the condition of intestacy will be the result. This would be the case regardless of your marital status. Under these circumstances, certain types of asset transfers would take place organically. Insurance policy proceeds and any assets that you may have in a payable on death account would be transferred to the named beneficiaries. Property that was in your direct an sole personal possession would become probate property. In general, in California, if your probate estate is in excess of $150,ooo, the probate court would supervise the administration of the estate, and the resources would ultimately be passed along to your
http://www.norcalplanners.com/blog/estate-planning/estate-planning-faqs-single-die/

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