What happens if you don’t have a will? If you die without a will, it means you have died “intestate.” When this happens, the intestacy laws of the state where you reside will determine how your property is distributed upon your death. This includes any bank accounts, securities, real estate, and other assets you own at the time of death.
You need to ask yourself the following questions:
- Who is the best executor?
- Do you have the right clause in your will to protect your wife and children?
- Do you have the right clause to make sure all your assets are distributed outside your estate?
- You have made provision for a Trust to protect y our minor children?
- Do you have a “General Power of Attorney?
- Do you have a “living will”?