All estate planning lawyers warn you of the consequences of dying without a will. The legal term for not having a will when you die is intestate succession. When that happens, your family is at the mercy of the probate court and Illinois law.
The good news is that your property will still be distributed to your loved one, even without a will. The bad news is that the process may take longer, and you will have no control over what happens to your assets (and perhaps even your dependents).
Your estate will still go through probate for intestate succession. Here, the probate court will appoint an executor based on the laws of Illinois. That person will still be responsible for settling the affairs of your estate, although it may not be a person that you would have wanted to perform these crucial tasks. Your loved ones will receive your assets in accordance with formulas that are specified in state laws. You would not be able to determine the split between heirs, nor would you be able to leave your property to causes that matter to you. In addition, the process will take longer, especially when the person is not prepared to serve as the executor.
There is an obvious way to avoid intestate succession, and that is to make a will now, while you have the mental capacity to do so. This act will spare your family expense and stress in the future, and your wishes will be known.
Call a Lincolnshire Estate Planning Attorney
You do not have to make your will on your own, nor should you try to do so. The attorneys at Charles Newland & Associates help families with estate planning. You can fill out an online contact form or call us today at 847.797.9300.