When you create a will, you give yourself control of the future by determining what happens to your assets when you pass on. If you don't meet with an estate planning attorney to take care of this essential paperwork, laws of intestate secession will dictate the dispersal of possessions and funds. Consider the following guide about how intestate succession is enforced in North Carolina.
What Is Intestate Succession?
Intestate succession is the legal term for how a deceased's assets are distributed among their family if they don’t have a will. If you are married and don’t have kids, and your parents are deceased, your spouse will receive everything. If you are married and have kids, the estate is divided between your spouse and kids, even if they are under the age of 18.
If you are single and don't have kids, and your parents are still alive, your entire estate passes to them. If there are no surviving parents, children, or spouses, North Carolina law has additional measures for distributing assets to more remote relatives, such as aunts, uncles, or cousins. Unless you’ve taken care of your wills and estates documentation, these laws come into effect.
What Assets Are Affected by Intestate Succession?
Any asset that would have passed through a will is subject to these laws. This might include real estate, cars, savings accounts, and any other financially viable asset. With estate planning, however, you can control where such property ends up. You can place a house in a living trust so that it will automatically transfer to the person named as the trustee. This ensures that a distant relative cannot invoke an intestate succession claim to the property.
For an estate planning attorney in North Carolina, trust The Law Office of J. Baron Groshon. Attorney Groshon has more than 28 years of experience. He prides himself on his open communication and makes a point of being available to his clients. Expect personalized attention and honest answers. The law firm has multiple offices in the state. To make an appointment with an estate planning attorney, call the office nearest you: (704) 342-3328 (Charlotte), (704) 342-2876 (Concord), (704) 342-2567 (Gastonia), or (704) 342-2876 (Cornelius). Get location details online.