Wills, trusts, estate planning and all that stuff can be a very confusing topic. People often make decisions about their estate plan (or lack thereof) on "things" they have heard from other people, who mean well but typically have no knowledge of the law here in Massachusetts. Usually, these "things" people hear third-hand are untrue or inaccurate, and can lead to unfortunate consequences. And here is one of the more popular misconceptions… “I automatically inherit all of my spouse’s property when he or she dies.” Many people believe this to be true, but not so if the assets are held individually. So when (not if) you die without a will, your estate will go to probate, the division of local courts which handles decedents’ estates. In other words, the county probate court will decide how your assets will be distributed according to state law. Possible heirs include the spouse, children, parents, and siblings… Now you know !
Posted on: Mon, 16 Sep 2013 16:38:10 +0000
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