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What You Need To Know If You Die Without A WillTrust & Estate Planning
Posted in on March 14, 2014
Did you know that if you die without a Last Will and Testament the Commonwealth of Massachusetts decides how to divide up your estate?
If you die without a Last Will and Testament, Massachusetts General Laws Chapter 190 dictates the distribution of your estate. The distribution of your estate differs if you die survived by a spouse, children, kindred or no family. For Example:
- If upon your death you are only survived by a spouse, then all of your estate assets would be distributed to your spouse.
- If you are survived by a spouse and children, then the spouse takes one-half of your personal and real property and the children equally split the remaining one-half. Please note these distribution scenarios could vary depending on values.
Estate administration of an individual that dies without a Last Will and Testament is generally more complicated and the process is longer,than that of an individual that dies with a Last Will and Testament.
In order to avoid the costly and unnecessary delay in administering your estate, and to ensure that your assets are distributed in accordance with your wishes contact Baker, Braverman & Barbadoro, P.C. to schedule an appointment with one of our Estate Planning attorneys.