What You Need to Know About Intestate Succession

June 10, 2015

If you die without a will, your estate will pass through probate. For the most part, your assets will go to your closest relatives under the intestate succession laws of your state. It’s also important that you know which assets don’t go through your will and are not affected by intestate succession laws mentioned above. 0qMys92qVjGIBYTesh8yV8NIZL6MvgwJyAGQmn3FEBo

Some examples of property that doesn’t go through your will includes:

  • Life insurance policy proceeds
  • IRA funds
  • Property transferred into a living trust
  • Securities in a transfer-on-death account
  • Property owned by a joint tenancy
  • Bank accounts considered “payable-on-death”

Avoiding probate is a good idea if you’d like to save your heirs from the confusion that can occur after you have passed. Putting together a will allows for you to stipulate clear outlines about how you want your estate handled.

Contact an estate planning professional to learn more about how you plan ahead. Reach out to us for an initial consultation at info@lawesq.net.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Your Tax Return Is a Roadmap: What to Review Before Year-End

Your completed tax return can reveal planning opportunities before year-end. Review investment gains, business income, retirement contributions, and estimated tax payments with your tax and ...

<p>The post Your Tax Return Is a Roadmap: What to Review Before Year-End first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Business Owners: Five Financial Conversations to Have Before December

Before year-end, business owners should review profit projections, cash reserves, major purchases, retirement plan funding, and personal financial goals with their advisory team. The start ...

<p>The post Business Owners: Five Financial Conversations to Have Before December first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Before You Make a Year-End Financial Move, Ask How It Affects the Rest of Your Financial Picture

Before making year-end tax, investment, retirement, business, or charitable decisions, consider how each move affects your broader financial picture. Year-end financial planning often starts with ...

<p>The post Before You Make a Year-End Financial Move, Ask How It Affects the Rest of Your Financial Picture first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>