When someone passes away with no will, the probate court has to figure out what to do with their assets. Now, a judge won’t jump straight to taking the property for the state, but this is a possibility. What’s more likely is that your assets will be passed down to family members, but perhaps not in the way that you would have intended. This is why talking to a Bergen County will lawyer sooner rather than later should be on your agenda.

Who Gets My Assets If There is No Will?

In a normal probate process, the will is read and an executor is assigned to help ensure that the last wishes of the deceased are met. When there is no will, there is no guidance. The court has to decide where your assets go.

A judge doesn’t just randomly decide who gets to keep your property. Instead, they must follow state intestacy laws. They find your closest family members and distribute the estate to them.

If you have a surviving spouse, they will be the first priority. They will always get their share of the estate, usually 25% of the intestate property and half of the balance. Then the rest of the estate can go to surviving children or parents.

If you do not have a spouse, your children get everything. If you have no children, then your assets go to your parents. Finally, if you don’t have surviving parents, your siblings would be your heirs. When there are no surviving siblings, more distant family members can be considered.

Would Step-Children Receive Any of My Assets?

Unfortunately, intestacy laws do not give any consideration to stepchildren. Unless you have formally adopted them, they are unlikely to receive any of your assets if you pass away and there is no will. This is just another reason why anyone with a blended family should have a comprehensive estate plan in place.

Does All Property Go Through the Probate Process If There is No Will?

Most property will, but some assets can pass down to a beneficiary even if there is no will. This can include things like:

  • Property owned by multiple people, i.e. the family home you own with your spouse
  • Payable-on-death benefits, like life insurance policies
  • Transfer-on-death property deeds and vehicle registrations

Essentially, if you co-own something or have been given the option to choose a beneficiary for an asset outside of the estate planning process, those assets have a clear heir and shouldn’t have to go through probate.

Will the State Take My Property?

This is really a last resort. The state is going to look for any possible heirs, even if they were someone who you didn’t have much of a relationship with. If the state can find a cousin or neice to give all of your assets to, it will. The state only takes your assets when no potential heirs can be found.

Contact Our Estate Planning Lawyers

So if you want to stay in control of what happens to your assets, there’s just one option. Contact the Law Offices of Colin M. Quinn and schedule a consultation with an estate planning attorney. We’ll help you make a comprehensive plan for what happens to your property.