Law

State laws, often referred to as intestacy laws, determine how an individual's assets are allocated when they die without adequate estate planning. Does house automatically go to spouse after death? If you are married, your spouse usually has a substantial share, if not the entire estate, including the family home, in many states. However, depending on the laws in your state and if you have children or other heirs, these default rules may differ significantly. Clear estate planning agreements are crucial because, although intestacy rules offer a starting point, they do not necessarily reflect your own preferences. How a Will Influences Property Distribution You can specify how your possessions, including your home, should be divided after your death by creating a will. By creating a will...