How should I distribute my assets if I don't have a will?

If you don’t have a will in Arkansas, then your assets will be distributed according to the state’s intestacy laws. This means that your estate will be divided amongst your closest relatives based on a predetermined formula. Generally, the first portion of your estate will go to your spouse and any children you have with them. If you do not have a spouse or children, your assets will be divided in a hierarchical order among your surviving relatives. This could include your parents, siblings, grandparents, uncles, aunts, and more. If you don’t have any surviving relatives, then your estate will go to the state of Arkansas. Depending on the size of your estate, you may also be responsible for paying inheritance taxes. When drafting a will, it is important to include a clear statement of who is to receive your assets when you pass away. Without a will, you won’t be able to control where your assets ultimately go. It is also important to note that any debt you may have will be paid out of your estate prior to any assets being distributed to your heirs. If you’re unsure of how to proceed, it is best to consult with an Arkansas estate planning lawyer. They can help you better understand your options and make sure that your wishes are carried out appropriately.

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How should I distribute my assets if I don't have a will?

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