If you don't have an estate plan, the State of Connecticut has one for you. And it may not be what you expect or want. If you die intestate - which means without a valid written Will - the laws of Connecticut will determine how assets you own in your sole individual name ("probate assets") will be distributed. Connecticut General Statue Sections 45a-437 and 45a-438 provide that:
Not all assets you own pass under the terms of a Will or laws of intestacy.
These assets will pass to the surviving co-owner or to the beneficiary you named, whether or not you have a will. Here are some examples:
However, avoiding Probate DOESN'T mean there is nothing to do when someone dies. The beneficiairies still have a legal obligation to administer the decedent's estate, and there are penalties for delaying.
Navigating "Who gets what and how?" can be confusing. Give us a call - we can explain and help you put YOUR preferred plan into effect.
To find out how we can help, download our Estate Planning Questionnaire to tell us more about you. Call us today to schedule an appointment to review it and answer any questions you have.
To find out how we can help, download our Estate Planning Questionnaire to tell us more about you. We can review this information together and we will recomend any additional estate planning steps you can take to best plan for all the milestones in your future.