Many clients ask, "What happens if I die without a Will? Simply put, if you die without a will, the government, not you, decides what happens to your assets.
Intestacy means dying without an estate plan (i.e. Will, Revocable Living Trust, etc.). Under the law, when a person dies "Intestate," the state dictates who receives their property. Under Missouri Revised Statute ("RSMo.") § 474.010, all Intestate property shall be distributed as follows:
The Decedent's Spouse Receives:
If there is no surviving spouse, then the entire estate is distributed as follows:
If there is no surviving spouse or relatives: The entire estate is given to the State of Missouri.
As you can see, the distribution found in Missouri's descent and distribution scheme may not be favorable to you, your spouse, or your children. To learn more about how you can prevent Missouri from dictating what happens to your things, contact Will attorney Vince Taormina.
Trusts are the best way to provide for an orderly and efficient transfer of wealth after death. See if our St. Louis trust attorney can help you.
Wills grant you the freedom to specifically distribute your assets to your loved ones. See if our St. Louis will attorney can help you.
We work around your schedule. Schedule an Appointment with experienced St. Louis estate planning attorney Vince Taormina today.Schedule an appointment