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

If you die without a will in Kansas, your assets are distributed according to state law. Kansas is an “intestacy” state, which means that if you die without a will, your assets will be distributed to your closest living relatives in a prescribed order. The first group of relatives to receive a share of the assets are your spouse and children. If you are married, your spouse will typically receive the largest share. Your children will receive equal shares of any remaining assets. If you do not have a spouse or children, then your parents and siblings will receive equal shares of your assets. If none of them are living, then your grandparents, aunts, uncles, and cousins will receive a share. If none of your relatives can be found, your assets will be passed on to the State of Kansas. This is why it is important to have an estate plan, even if you do not have a lot of assets. Having a will ensures that your assets are distributed according to your wishes and not the laws of the state. Having a will also ensures that your wishes regarding the guardianship of any minor children are taken into consideration. Without a will, your children may end up with a guardian appointed by the court. Estate planning is an important part of ensuring that your assets are distributed according to your wishes. Without a will, the state will make decisions about how your assets are distributed and who is appointed to take care of your minor children. It is best to consult an experienced attorney to discuss your estate planning options.

Related FAQs

What is a guardianship and why should I consider it?
What is a durable power of attorney?
What is an inheritance trust?
What is an estate distribution plan and how does it work?
What is a trust protector and how does it work?
Should I include a trust or will in my estate plan?
What is a pour-over will and how does it work?
What is a pet trust and how does it work?
How can I plan for the future care of my minor children?
What is a life insurance trust?

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

Related FAQs

Related Blog Posts