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The two most frequent reasons that people do not make Wills are:
The administration of an Intestate Estate, that is, the property of someone who dies without leaving a Will, is often more costly than probating a Will. Even where all relatives are in agreement, legal guardians must be appointed by the court for all minor children before the administration of an intestate estate can even begin. Also, bonding is required for the personal representatives of intestate estates. A simply drawn Will can eliminate these unneeded expenses. A simply drawn Will can also eliminate the uncertainty of inheritance. Each state has its own intestacy laws which dictate how property is inherited if there is no Will. These intestacy laws may or may not coincide with the intended inheritance of property within a family. The intestacy laws make no provision for inheritance of property outside of family blood lines. In Pennsylvania, for example, if a person dies without a Will and without fairly immediate family, then the Commonwealth of Pennsylvania becomes the “statutory heir” of all the deceased’s property. It would be an understatement to call this an unintended result in most cases, and it can so easily be avoided by the execution of a simple Will. If you are ready to make or update your Will, please contact me for an initial consultation, from which point we can consider what your Will should include. There is no charge for initial consultations. |