Wills 

Many people are understandably reluctant to contemplate their own demise. Others choose not to do a Will based on inaccurate or incomplete "common sense." Regardless of the reason, upon your passing, your loved ones will be the ones impacted by your decision not to have a Will or other estate plan. 

While we cannot overcome your reluctance for you, we can address many of the common misconceptions that lead some to decide against having a Will or other estate plan. 

If I die without a Will all of my property automatically passes to my spouse.

This is a common misconception. Pursuant to statutes in most states, if you die intestate (without a Will) your spouse will receive all of your property ONLY if you have NO children. If you have even one child, your spouse will likely receive only a portion of your estate. The other portion of your estate will go to your child or children. Consider whether your spouse could comfortably live on a portion of your assets. 

I do not need to worry about estate planning because all of my property is jointly owned.

While it is true that jointly owned property can avoid probate, it only avoids probate for the estate of the first person to die. The survivor's estate will have to go through probate. In addition, joint ownership of property can have unintended (and undesirable) consequences, especially if the property is jointly owned by anyone other than your spouse. For example, the survivor may have to pay gift tax, your property may be attached by creditors of the surviving joint owner, or you may inadvertently disinherit a grandchild. 

And what if the joint owners die in a common occurrence - who will inherit the property? 

If my spouse and I die, our child will be cared for by his or her closest relative.

If you and your spouse die leaving a child under the age of 18, a court will have to determine who will serve as your child's guardian. The court's decision will not be based solely on your child's relationship to a particular individual. Many factors will be considered to determine what would be in the best interest of your child. If you would like your voice to be heard by the court, you must speak up now by executing a Will in which you nominate a guardian. There is simply no other way to have your wishes made known by a court of law. This is particularly important if you would like a non-relative to be your child's guardian.  Please contact us with questions of for more information.