What happens if a person dies without a will?
If you die without a will, the law decides who gets your money and things. Sometimes there can be problems:
- If your family does not agree about who should get what, some items may have to be sold.
- If this happens, the law says that money from sales is split between family members.
- If you have no family, the money goes to the State.
- The law may give money to family members that you would not. Also, it is sometimes not easy to split money without a will if you were married more than one time. It can also be hard where there are children from more than one marriage.
- Problems can arise if you have kids under 18. If after your death, the kids have no living parent, the court will appoint someone to take care of the kids. This person may not be the one you would have chosen.
These problems may be good reasons to write a will.
What is probate?
"Probate" what happens to your money and things after you die. It is the process of paying off your debts and giving your money and property away. This is also called "settling your estate."
By law, there must be a person to manage this process. This person is called a "personal representative." Under Wyoming law, this person used to be called an "executor."
In general, this person must
- keep track of all your money and things;
- call or write the people who are getting your money or things;
- collect money from people who may owe it to you;
- pay your debts and taxes;
Your "personal representative" is paid out of your money. If they choose, this person can choose to work for free. Any lawyers are also paid out of your money.
Probate usually takes at least four months. It often takes longer.
________________
See:
[What You Should Know About Wills][How Do I Get A Will?][Handwritten Wills][Sample Handwritten Wills]
