Who will receive your property if you do not have a will?

by | Aug 11, 2017 | estate planning, Firm News

While death is a guarantee for everyone in Tennessee, most do not really think about it until it becomes imminent. There are way too many things to think about in your daily life to worry about what is going to happen when you die. However, you also cannot take your possessions with you after they die, either. Everything you own will end up in the hands of another person. The law states who will receive you possessions and other assets if you do not have a will directing where they should go.

If you have a spouse and no children at the time of your death, then all your property will go to your spouse. If your have a spouse and children, a portion will go to your spouse and a portion to your children. If you have children, but no spouse, then your children will each receive a portion of your property. If you have no spouse or children, then your estate goes to your parents; if your parents are no longer alive, then your estate will go to your siblings. If you have no parents or siblings, your estate will go to your grandparents, and then to aunts and uncles if there are any.

Sometimes this system may reflect where you would like your property to go, but you may have different relationships with different family members.  You also may want to make sure certain individuals get certain property for sentimental reasons, or you may know a specific relative needs the property more than another. This is why it is important to have a will. Wills direct where property will go, and you have control over the process.

People in Tennessee plan for many things in their life to ensure things go the way they would like them to go. However, many people do not plan for their death. While it is not a subject people generally like to discuss, having a will is still important and should be discussed. Experienced attorneys understand the law and important aspects of wills and may be a useful resource.