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

If you live in California and do not have a will, your assets will be distributed according to the laws of “intestate succession” in California. Intestate succession is a set of laws that decide how to transfer your property upon death if you have not created a will. This means that the court will decide how your property will be distributed rather than following your wishes. If you are not married and do not have any children, your assets will be distributed in the following order: first, your surviving parents, if any, then your siblings, then your grandparents, then your aunts and uncles, and then your cousins. If you are married but do not have any children, then your spouse will inherit the entirety of your estate. If you are married and have children, then your spouse will inherit one-half of your estate and the children will inherit the remainder. If you have children but are not married, then your children will inherit the entirety of your estate. In California, if there is no living relative, your estate will be transferred to the state. It is important to consider estate planning as this allows you to decide how your assets will be distributed once you’re gone, rather than leaving it up to the state. An attorney specializing in estate planning laws can help you create and update your will, ensuring that your assets are distributed according to your wishes.

Related FAQs

What legal documents will I need to establish my estate plan?
What is a trust account and how does it work?
What is an estate inventory and why should I create one?
How can I plan for the future care of my minor children?
What is the purpose of estate planning?
What rights do my heirs have to my estate?
How should I distribute my assets if I don't have a will?
What is a revocable living trust?
What is a revocable living trust?
How can I reduce the estate tax burden?

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

Related FAQs

Related Blog Posts