The State's Estate Plan for You
Everyone has an estate plan, whether intentional or by default. If you think you have no plan because you have not made out a will or a trust, you're mistaken. You still have a plan — it is simply one that is dictated by the laws of the State. People who die without wills or trusts are said to die intestate. State law provides the rules of distribution that MUST be followed when a person dies intestate. In most cases intestate estates must be probated, which involves a court proceeding, and in many cases state law may require a distribution that you would not want. It is a very good idea to avoid intestacy by having a will or a trust that is designed for your particular needs.