What Happens If You Die Without A Will

What happens if you don't have a will?

Without a will, you do not have an executor.This means that someone must be appointed to act as an administrator of your estate, which can cause frustration, delays, unexpected expenses and even family feuds.Your childrens’ future could be out of your hands.

Without a will that says in ‘black and white’ who you want to take care of your minor children after you’re gone, that decision could be determined by the Public Guardian (the government). In addition, without a Will, the Public Trustee (the government) becomes involved in the administration of your childrens’ share of your estate – deciding their financial future and taking a portion of your estate as its fee.

There is no opportunity to stipulate your burial preferences.Funeral arrangements are heart wrenching enough without family fights about burial vs. cremation and the hot topic of organ donation. Outlining what you want in your Will eliminates it becoming a debate because your decision is made.

Your estate may go to a relative that you may have never spoken to, or don’t even like.Tragedy strikes. Your whole immediate family passes away and suddenly all your ‘stuff’ is being shipped to Budapest to a second cousin twice removed who doesn’t even know your name.

If you had a Will you could have prepared for the worst and made sure that your ‘stuff’ went to a charity rather.

Your loved ones could foot the bill for lawyers and costly court costs.The costs of setting up a Will are minimal in comparison to hefty legal fees that can add up quickly when there are problems with an estate.

There are several other consequences to not having a Will but you get the gist.

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