Estate planning is an essential step to take to ensure your loved ones and final wishes are protected in the event of your death or incapacitation. There are a variety of legal documents you can use to provide direction on how to handle your affairs. Unfortunately, failing to have a plan in place can result in a number of unintended consequences. Here are a few scenarios that you can expect to take place if you don’t make preparations for the future.

What Happens if You Pass Away Without Estate Planning

1. Your Assets Are Distributed by Intestacy Laws

By establishing a will or trust, you’re able to remain in control of how your assets are distributed after your passing. This allows you to make certain provisions for your children, parents, siblings, a special needs dependent, or even your favorite charity organization. However, if there isn’t an estate plan to explain who you wanted to receive what, the court will distribute your assets according to the state’s intestate succession laws. This can lead to confusion and discord among family members.

2. The Court Decides Guardianship

If you have minor children, estate planning becomes even more important. Drafting a will is the only way to name a guardian to take care of your minor children should you and their other parent no longer be capable of doing so. Without a will to designate someone, the court will step in and appoint a guardian for them. This could end up being a person you wouldn’t have chosen to raise them. 

3. Your Family Must Petition for Conservatorship

Estate planning isn’t only vital for managing your assets, but also for making sure your end-of-life care wishes are protected if you suffer incapacitation. Including a power of attorney and health care directive in your estate plan will give someone you trust the authority to make medical and financial decisions on your behalf if you’re not able to communicate them yourself. If these documents don’t exist, your family will have to petition the court for conservatorship. This involves an expensive and lengthy probate process.

If you have yet to create a comprehensive estate plan, reach out to Greene Law PC to get started. They’ll assess your situation to determine which documents will most suitably meet your estate planning needs and ensure each one is properly executed to stand up in court. Backed by more than 25 years of experience, they’ve helped numerous Farmington, CT, residents make arrangements to protect a financially secure future for themselves and their loved ones. Call (860) 676-1336 to schedule a consultation or visit them online for more information about their services.