What happens if I die without a trust?

If you die without a trust in New York, the laws of intestate succession will determine how your estate is distributed. Intestate succession is a process by which your assets are distributed to people named in a state law. In New York, this law is known as the Estates, Powers, and Trusts Law. The law names your spouse, children, and other relatives to whom your assets will be distributed. If you do not have a spouse or children, then your assets will be distributed to other relatives depending on their degree of kinship. If none of those relatives are alive, then the assets will be distributed to the state of New York. If you have minor children, the court may appoint a guardian to manage your assets on their behalf. This guardian is responsible for making sure that the assets are managed in the best interests of the children and that the money is used to provide for their needs. It is important to consider the complexities of intestate succession and how it could affect your heirs before you die. Intestate succession can be difficult to navigate and if you do not have a plan in place, your assets may not be distributed as you wish. By creating a trust or will, you can make sure that your estate is distributed to your intended beneficiaries in the way that you want.

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What happens if I die without a trust?

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