Dying without a Will – The Close and Personal Results
The December article pointed out that an estate plan is not about you, it is about those you love. Let's look from a 'down to earth' perspective at what occurs when you die without having even at minimum a will—at how these events play out in lives like yours and mine and those you hold dear.
At its most basic, a will is a plan. The lack of a plan leads to many undesired outcomes; fighting, confusion, unfair disbursement of belongings and wealth, unresolvable grief, distress, excessive red tape in claiming rightful benefits and on.
Don't wait till the "last minute." Those minutes may be fewer than you would like. Here's a real-life story:
A couple mean to create a trust. With five pieces of property it is important to them that the wife have legal possession of those upon her husband's passing, with no hassle or cost to transfer possession. But they never get around to it and the husband has a severe stroke. Now there is no time. There is only, so immeasurably sadly, his passing. Only a portion of the property is in both names and the wife now must endure complex and costly probate to gain legal title to what they both intended to be hers.
Confluence Law Center
24461 E. Welches road, Suite 4
P.O. Box 964
Welches, OR 97061
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