The Problem of Dying without a Will
Wills are an important Estate Planning Tool. However, as with many things in life, there may be issues.
In almost no states do non-married, non-biological family members receive any inheritance if access is not explicitly laid out in a will.
Studies have shown the number of cohabiting unmarried partners has nearly tripled in the past 20 years, yet virtually no states incorporate these couples into their inheritance laws neglecting many members of society.
Although registered domestic partners in some states can – but not all – receive partial inheritance rights. A similarly complex position typically faces non-biological children who are not formally adopted into a family, which can be a long and expensive process. Stepchildren and foster children are also excluded from most state inheritance laws.
For example, consider the situation in which a mother with a biological child gets divorced and then marries a new spouse. If that mother dies without a will, states will pass on most of her assets – the house, the family heirlooms, everything – to the new spouse, while her biological offspring will receive a smaller share, if anything, according to many state laws. If that spouse later remarries and then dies, also without a will, the mother's biological child could again be cut out of inheriting their mother's remaining assets because intestacy laws would prioritize the spouse's new family.
These factors emphasize the importance of a Will. It is never too late.
This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship.
For more information on this and other topics, please contact Kevin via any of the channels listed below:
📧 kevin@kmckernan.com | 📞 718-317-5007