Estate Planning for Childless Individuals

One primary reason some people do estate planning is that they want to leave a legacy for their children. However, individuals or married couples without children can still benefit from creating an estate plan. In some cases, it’s even more important for them to do some planning because the default state laws won’t achieve their objectives. Intestacy for Childless Individuals The North Carolina intestate succession laws will determine what happens to your property if you die without a valid will. If you are married, your spouse will receive a share of your property. You may be surprised to learn that they won’t necessarily receive all of your property. For example, if one or both of your parents are still alive when you pass, they will receive a one-half interest in your real property. Your spouse will now have to share an interest in your home with your parents. If you’re unmarried and childless, your parent or parents could end up getting everything.…

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