Answer: True. Every state has default laws (called intestacy laws) that kick in if a person has not made their own estate planning choices. These laws are designed with a “one size fits most” situation in mind. For example, if you are married, your spouse will usually...
Regardless of whether someone has a will, their family will have to go through probate (but not for assets in a trust … and we’ll get to that ). The purpose of probate is to change ownership of an asset from the name of the deceased to the name of the beneficiary. The...
