potterlaw

North Carolina and Kentucky Estate Planning Attorneys

NC (704) 944-3245
KY (606) 324-5516
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What Happens If I Die Without a Will or Trust?

June 15, 2015 by John Potter

What Happens If I Die Without a Will or Trust?Estate planning is something that everyone should take seriously. Of course, as you are going through life, this is a delicate subject. At the same time, you have to make sure that your loved ones are provided for after you are gone.

The statistics about estate planning preparedness are not encouraging. Studies consistently show that most American adults are not properly prepared for something that is definitely going to happen to each and every one of us.

Intestacy

If you die without a will,  a trust, or other planning, you will die intestate. Under these circumstances, the state would use intestate succession laws to determine how your assets should be distributed.

Each state has different intestate succession laws, but there are basic similarities. We practice law in North Carolina and Kentucky.  In North Carolina, your children would inherit all of your personal property if you had living children but no spouse still alive.

In North Carolina, if you left a surviving spouse and no living parents or descendents, your spouse would inherit all of your personally held property. Perhaps surprisingly, if you did have a living parent or parents, and you had a surviving spouse, your surviving spouse and your parents would divide your intestate property under certain conditions.

These are a few possible scenarios, but there are laws in place to address any familial relationships that could exist.

If you were to pass away without a will or a trust and you had no living relatives, the state could take your assets under escheat laws.

Action Required

There is really no reason to go through life without an estate plan. People who do nothing to prepare for the inevitable often leave behind difficult circumstances that the people that they love must deal with.

Many people know that they should plan ahead, but they don’t know how to begin. This is understandable, but you can engage professional guidance if you feel this way.

Our firm offers free consultations, and we would be glad to answer all of your questions and help you put a plan in place if you decide to go forward.

To set up an appointment, send us a message through this link and we will get back in touch with you promptly: Charlotte NC Estate Planning Attorneys.

Attend a Free Estate Planning Seminar

We endeavor to provide educational opportunities to people in our area. You can visit this website to build on your knowledge, but we also offer free seminars on an ongoing basis.

During the month of June, we will be holding some informative estate planning and elder law seminars. It is free to attend these information sessions, but we do ask that you register in advance.

To view the schedule, visit this page: Estate Planning Seminar Schedule Page.

  • Author
  • Recent Posts

John Potter

Latest posts by John Potter (see all)

  • Medicaid Income Rules for Healthy Spouses - October 24, 2019
  • Inheritance Balancing for Small Business Owners - October 17, 2019
  • Inherited Assets Get a Step Up in Basis - October 9, 2019

Filed Under: Estate Planning

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Testimonials

My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.
Jillian
Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.
DKS & KMS
John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.
David J.

Where We Are

Ashland

ASHLAND
1620 Carter Avenue
Ashland, KY 41101-7631
Phone: (606) 324-5516
Fax: (606) 324-4766

Charlotte

CHARLOTTE
15720 Brixham Hill Avenue
Suite 300,
Charlotte, NC 28277
Phone: (704) 944-3245

Huntersville

HUNTERSVILLE
11330 Vanstory Drive
Huntersville, NC 28078
Phone: (704) 944-3245

Northern Kentucky

NORTHERN KENTUCKY
7310 Turfway Road
Suite 550,
Florence, KY 41042
Phone: (859) 372-6655

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Tuesday8:30 AM - 4:30 PM
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The information on this website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

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