{"id":3636,"date":"2023-09-09T08:38:12","date_gmt":"2023-09-09T12:38:12","guid":{"rendered":"https:\/\/thegraftonfirm.com\/?page_id=3636"},"modified":"2023-09-21T08:41:03","modified_gmt":"2023-09-21T12:41:03","slug":"dying-with-no-will","status":"publish","type":"page","link":"https:\/\/thegraftonfirm.com\/dying-with-no-will","title":{"rendered":"What Happens If You Die Without a Will Towson, MD"},"content":{"rendered":"

Understanding the Consequences of Dying Intestate<\/span><\/h2>\n

Life is filled with uncertainties, but there are some aspects we can plan for to provide peace of mind for ourselves and our loved ones. Estate planning, particularly the <\/span>creation of a will<\/b>, is one such critical aspect. However, not everyone has the opportunity to create a will, and many individuals may find themselves facing the question: “What happens if you die without a will in Towson, MD?”<\/span><\/p>\n

The consequences of passing away without a will, often referred to as dying “intestate,” can be both legally complex and emotionally challenging.\u00a0 At The Grafton Firm, our <\/span>Maryland estate planning attorneys<\/span><\/a> are here to help you navigate the complexities of dying intestate. We have extensive experience in <\/span>estate planning and probate law<\/span><\/a>, and we’re dedicated to ensuring that your wishes are honored and your loved ones are protected.\u00a0<\/span><\/p>\n

Whether you’re seeking guidance on creating a will or need assistance in the absence of one, we’re here to provide you with the legal assistance you need. Contact us today to schedule a free consultation and learn more about how we can help you draft a will that protects your assets and ensures your loved ones are taken care of.<\/span><\/p>\n

What is a Will?<\/span><\/h2>\n

A <\/span>will<\/span><\/a>, formally known as a “<\/span>last will<\/b>,” is a legal document that serves as a fundamental component of estate planning. It outlines an individual’s wishes regarding the distribution of their assets and the handling of their affairs after their death. A well-drafted will not only specifies who should inherit what, but also designates guardians for minor children, and appoints an executor to manage the estate.<\/span><\/p>\n

Failing to create a will or having an outdated one can lead to complications, delays, and disputes during the estate settlement process. To create a legally sound will that reflects your wishes and meets the requirements of your jurisdiction, it is advisable to consult with our Towson MD estate planning lawyer who can guide you through the process and help you make informed decisions about your estate.<\/span><\/p>\n

What is Intestate Succession?<\/span><\/h2>\n

Intestacy succession<\/b> is a legal framework that comes into play when a person passes away without leaving a valid will or other legally recognized estate planning documents. It outlines the default rules for the distribution of the deceased person’s assets and property among their heirs.<\/span><\/p>\n

Intestate succession is often seen as a last resort, as it may not align with an individual’s actual wishes for the distribution of their assets. The specific rules and procedures for intestate succession may vary from one jurisdiction to another, as they are typically governed by state laws. Our <\/span>Towson MD estate planning lawyer<\/span><\/a> can help you understand the laws in determining who inherits a deceased person’s assets without the presence of a will.<\/span><\/p>\n

Which Assets Pass by Intestate Succession?<\/span><\/h2>\n

If you die without making a will, the court will distribute your property according to the state\u2019s intestacy laws. Who gets what depends on who your closest relatives are. The most likely recipients are your spouse, your children, your parents, or your siblings.\u00a0<\/span><\/p>\n

In Maryland, the assets that pass by intestate succession include those <\/span>owned solely<\/b> by the deceased person at the time of their death, without any valid will or other estate planning documents that specify their distribution. Our Towson estate planning attorney can help you determine which assets typically pass by intestate succession in Maryland:<\/span><\/p>\n

Personal Property<\/b><\/h3>\n

Personal possessions, including vehicles, furniture, jewelry, and other belongings owned solely by the deceased, are subject to intestate succession. These items will be distributed according to Maryland’s laws.<\/span><\/p>\n

Bank Accounts and Investments<\/b><\/h3>\n

Bank accounts<\/b> held solely in the name of the deceased individual without designated beneficiaries are subject to intestate succession. In addition, stocks, bonds, and other investment accounts held solely in the name of the decedent without designated beneficiaries will also be subject to intestate succession.<\/span><\/p>\n

Real Property<\/b><\/h3>\n

Real estate owned solely by the decedent, such as land or a house, will be subject to intestate succession. If there is no surviving spouse or descendants, it will typically pass to the decedent’s parents, siblings, or more distant relatives.<\/span><\/p>\n

Other Financial Assets<\/b><\/h3>\n

Various financial assets owned solely by the deceased, such as savings accounts, certificates of deposit (CDs), and brokerage accounts, pass by intestate succession.<\/span><\/p>\n

Furthermore, assets that have designated beneficiaries or are held jointly with the right of survivorship are generally not subject to intestate succession. These assets pass directly to the named beneficiaries or surviving joint owners, bypassing the <\/span>probate process<\/span><\/a>. Such assets may include:<\/span><\/p>\n