Who can inherit assets from your estate is a fairly straightforward process, provided there’s a will, and a well-written one at that. Take the time to create a document that clearly states who gets what protects your wishes along with who is supposed to get what. It’s important to make sure that the will is clear about this, otherwise it could wind up being challenged in court in the event that there is contention among family members. Don’t the risk of a court challenge that sees your wishes ignored with a poorly written document. Instead, make sure that everything is outlined properly in order to preserve your preferred lines of inheritance.
If you feel that a will isn’t necessary for whatever reason, known as being intestate, the law takes over the inheritance issue. In the event you have a surviving spouse, he or she takes on the role of distributing your assets, even if there is no will. Typically, if a spouse dies intestate, the survivor inherits the entire estate and can distribute any assets at their discretion. In the event that there is no spouse and no immediate family members, the estate is distributed to the next closest of kin.
Do you live in the Phoenix area and feel that it is time to plan your estate? Contact Phocus Companies to talk to someone about your options today.
