[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]Amid this novel COVID-19 pandemic, more people are thinking about what will happen to their property should they pass away tomorrow. Do you need a Last Will and Testament? What happens to your property if you pass away without one? In Georgia, if you do not have a will, your property passes through intestate succession, also called intestacy. Intestacy is how the state determines who gets your property if you pass away without a valid will. Similarly, intestate estates are those estates that do not have a will dictating how the property should be disposed. This article focuses on why your estate should avoid intestacy, but if you are interested in reading more about why you should have a will, please check out our article, 5 Pros of Having a Last Will and Testament.
When a loved one passes away without a will, he/she have NO say in how his or her property will be disposed. This means that, depending on what your family tree looks like, property can transfer to distant relatives to which the decedent (or deceased person) had no relationship, property can transfer to a minor child or multiple minor children, or property can transfer to someone you otherwise would not want to have it.
A distant or estranged relative receiving property can be problematic for several reasons, the most common being it can be very difficult to track down these relatives, much less their contact information. Additionally, in our experience, estates with distant relatives tend to attract more litigation (lawsuits) that drain estate assets. For example, title to a house could be transferred to 12 different people who don’t wish to share title to a common property. As I’m sure you can imagine, not only does such a transfer end up muddying title to property, but it ultimately leads to additional future lawsuits. In contrast, heirs who share a 1/12 share in property are sometimes unmotivated to help clear title when their potential inheritance is minimal. Either way, dealing with an estate with so many heirs can be a huge headache.
Even without a big family of distant relatives, intestacy is not ideal for families with minor children either. When a loved one with minor children passes away without a will, a portion of the decedent’s property by law will transfer to their minor children. While you may want to leave your property to your surviving children, imagine leaving your surviving spouse to share title in your home with your young child. Not only does your spouse have to deal with grieving your loss and handling all of your affairs, but your spouse will also have to navigate setting up a conservatorship for your minor children, which will require your spouse to post a bond and file annual reports with the Court during the child’s minority.
Lastly, intestate succession does not permit disinheritance. Thus, if a loved one passes away without a will, his or her family has no recourse to disinherit any family member from receiving a share of the estate’s assets.
The good news is that intestacy can be avoided through careful estate planning, and your minor children (or grandchildren) can still be cared for through instruments like testamentary trusts. If you survived a loved one who passed without a will, you may need to take extra steps in administering that estate through the probate Court. No matter your situation, the experienced attorneys at Brown, Barbour, & Thrailkill, P.C. are here to help.
Call us today at 770-461-2025 for a free consultation to discuss your family’s estate and/or probate needs.[/vc_column_text][/vc_column][/vc_row]
