If you don’t have a will when you die, it’s called dying “intestate”. This means that your assets will be distributed according to your state’s laws of intestate succession, rather than according to your own wishes.
Without a will, you have no say who will inherit your assets or how they will be distributed. This can lead to conflicts among your loved ones and can even result in your assets being distributed in ways that you may not have intended or desired.
Having a will allows you to specify how you want your assets to be distributed after you die and can help to ensure that your wishes are carried out. It can also make the probate process (the legal process of distributing your assets) go more smoothly for your loved ones.
Overall, it’s a good idea to have a will to protect your assets and ensure that your wishes are carried out after you die. If you don’t have a will, it’s a good idea to speak with an attorney to discuss your options for creating one.
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Martin K. “Bo” Brown and not necessarily those of Raymond James.
Raymond James and its advisors do not offer legal advice. You should discuss any legal matters with the appropriate professional.
