Is It Worth Making a Will Before Dying?

It will become difficult for us to live if we keep thinking that with every passing day, we are moving close towards our last day. But no matter how depressing it is, the truth is that we will not last forever. It is overwhelming to think that over 65% of us, under the age of 55, do not have a will. The number is not the same but is still high when it comes to the people who are over 55 years. According to the estate planning attorney in OKC, people are not prepared to have a will and it is common in American adults.

Now, if we are talking about a person who is not married or have no dependents, it is a little easier to make an estate plan if they do not have a will. But it becomes much more complicated when we have people depending on us, especially spouse and children.

Intestacy:

When we die without making a will or an estate planning, it is known as intestacy. If we are in the situation, the estate planning attorney will have to request the court to intervene so that the estate administration is done in the court’s supervision.

A personal representative will be appointed for our case. The person can be someone with whom we were close enough. The chosen person will be in-charge of completing the unfinished tasks such as notifying and paying debts to the creditors.

Succession:

If we die without creating a will in Oklahoma City, the law will allow the court to distribute your assets. This is the intestacy succession law. This is a process in which all the eligible parties are considered for the distribution of your assets. So, if your parents are still alive after your death, your spouse will not be the only successor of your asset. If you had owned anything jointly with your spouse, they would get that asset. But your single-owned assets will be distributed in a way that your lawfully wedded partner will get one-third of the property. Even if you have siblings and a spouse, the estate planning attorney in OKC will divide the property maintaining the same arrangement.

Many of us do not take making a will seriously. Intestacy is not an option when we have people depending on us. It is no good to make our loved ones go through the legal procedures when they are coping with the emotional loss of our death. Reneau Law Group has been supporting its clients with all the legal procedures. They can help us talk to an estate planning attorney and make a will today.

**Disclaimer: The above article does not imply a relationship between attorney and client, nor does it aim to provide any legal advice.