What happens if I die without having created an Estate Plan?

If a person dies dies without an Estate Plan, Government Statutes will fill in the gap and direct your family on how your assets shall be distributed. The Statutes will also designate who will be in charge of distributing those assets. It will probably not surprise you that the Government Statutes are not designed to save your estate from the high cost of Taxes and Probate fees. The plan the Government has for you is very expensive. In addition to the high monetary fees that are required, the Governments plan has other problems. Far too often, the manner in which the Statutes direct your estate to be distributed is far different than what your wishes would have been. This is especially true for people with blended families where the children have different sets of parents. All Estate Planning attorneys agree that it is very costly for a person to die without preparing an estate plan.

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