Estate Planning | Making a Difference One Family at a Time

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intestacyWhen someone passes away without a legally valid will or other estate planning documents, their estate is subject to intestacy laws. These laws dictate how assets are distributed, but the results may not align with what the deceased would have wanted.

In this post, we will provide a detailed explanation of intestacy and offer solutions that can be implemented to prevent negative outcomes.

What Is Intestacy?

Intestacy occurs when an individual dies without a valid will. In such cases, the state takes control of the estate distribution process. Each state has its own intestacy laws, but the general goal is to distribute assets to the closest living relatives.

While this may sound reasonable, the reality often diverges from the deceased’s intentions. For instance, intestacy laws typically do not account for unmarried partners, stepchildren, or close friends. These individuals may receive nothing, regardless of their relationship to the deceased.

Who Decides What Happens to Your Assets?

When you die intestate, the court follows state laws to determine how your estate should be divided. This means you relinquish control over decisions like:

  • Who inherits your assets.
  • Who cares for minor children if you are their sole guardian.
  • How property is divided among beneficiaries.

This process can also lead to unintended outcomes. For example, if you are unmarried but have a long-term partner, they may not inherit anything. Instead, your assets could go to estranged relatives you dislike who don’t need the money.

The Financial and Emotional Costs of Intestacy

Dying without an estate plan creates avoidable burdens for your loved ones. The financial and emotional toll can be significant.

Increased Expenses

The intestacy process often requires probate, which can be costly and time-consuming. Court fees, attorney fees, and administrative costs reduce the value of the estate, leaving less for your heirs.

Family Disputes

The lack of clear instructions in intestacy can lead to disagreements among family members. Relatives may argue over who should inherit specific assets or how the estate should be divided. These disputes can strain relationships and lead to expensive legal battles.

Delayed Distributions

Probate for an intestate estate can be complicated and lengthy. Assets are not distributed to the beneficiaries until the estate has been probated, and it will typically take nine months or longer.

Protecting Your Loved Ones

Estate planning puts you in control, preventing intestacy and ensuring your assets are distributed according to your wishes. A comprehensive plan can include tools like a will and/or a living trust along with powers of attorney to provide clarity and prevent complications.

Simple Will

A will is the cornerstone of many estate plans. It allows you to specify:

  • Who inherits your property.
  • Who will serve as the guardian for minor children.
  • Who will serve as the executor to oversee your estate.

While a will provides clarity, it does not avoid probate. For greater efficiency and privacy, consider a living trust.

Benefits of a Living Trust

A living trust bypasses probate, ensuring assets are distributed quickly and privately to your chosen beneficiaries. Unlike a will, a living trust allows you to plan for incapacity, appointing a trustee to manage your affairs if you are unable to do so.

Living trusts also give you greater flexibility. For instance, you can set conditions for inheritance distributions, such as delaying distributions until beneficiaries reach a certain age.

Powers of Attorney and Living Will

Comprehensive estate planning also includes incapacity planning. A durable power of attorney allows you to appoint someone to manage your finances if you become unable to do so.

With a living will, you specify your preferences for life support, and a durable power of attorney for healthcare should be added to name a medical decision-maker.

Avoiding Intestacy Pitfalls

To prevent intestacy, it’s essential to have a legally valid estate plan. Here are some steps to ensure your plan is effective:

  • Draft a Will or Trust: Work with an estate planning attorney to create documents tailored to your needs.
  • Update Regularly: Review your plan after major life events, such as marriage, divorce, or the birth of a child.
  • Name Beneficiaries: Ensure all financial accounts, retirement plans, and insurance policies have updated beneficiary designations.

By taking these steps, you eliminate the risks of intestacy and provide your family with the clarity they need during a difficult time.

Schedule a Consultation Today!

We can help if you would like to work with a Westport or Glastonbury, CT estate planning lawyer to put a plan in place. You can send us a message to request a consultation appointment, and we can be reached by phone at 860-548-1000.

Diana O'Rourke, Estate Planning Attorney
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