When you die without a will

In North Carolina, there are very specific laws about how property is to be distributed if a person dies without a will.

It is our belief, that everyone should have a will, even if you have some form of advanced planning such as a Trust. There are often overlooked items that need to be handled outside the Trust; refunds, overpayments, an inheritance, etc.

The following will offer some idea how your estate will be handled if you do not have a will: (especially note a spouse with children and or the deceased’s living parents)

If you die with:	here’s what happens:
children but no spouse	children inherit everything
spouse but no descendants or parents	spouse inherits everything
spouse and one child or descendants of one child	spouse inherits 1/2 of your intestate real estate and a portion of your intestate personal property (if you die with personal property worth $60,000 or less, your spouse inherits all of it; if you have more than $60,000 worth of personal property, your spouse inherits $60,000 plus 1/2 of the balance) child or descendants inherit 1/2 of your intestate real estate and any intestate personal property remaining after the spouse’s share
spouse and two or more children, or descendants of those children	spouse inherits 1/3 of your intestate real estate and a portion of your intestate personal property (if you die with personal property worth $60,000 or less, your spouse inherits all of it; if you have more than $60,000 worth of personal property, your spouse inherits $60,000 plus 1/3 of the balance) children or descendants inherit 1/3 of your intestate real estate and any intestate personal property remaining after the spouse’s share
spouse and parents	spouse inherits 1/2 of your intestate real estate and a portion of your intestate personal property (if you die with personal property worth $100,000 or less, your spouse inherits all of it; if you have more than $100,000 worth of personal property, your spouse inherits $100,000 plus 1/2 of the balance) parents inherit 1/2 of your intestate real estate and any intestate personal property remaining after the spouse’s share
parents but no spouse or descendants	parents inherit everything
siblings but no spouse, descendants, or parents	siblings inherit everything PLEASE CONTACT US IF YOU HAVE ANY QUESTIONS REGARDING THE CREATION OF A WILL OR HELP WITH A WILL THAT WILL NEED PROBATE ASSISTANCE. www.carolinaestatecounsel.com Carolina Estate Counsel offers free consultations in your home, senior living community, your place of business or financial advisor’s office. We offer legal advice only and do not sell annuities, securities or insurance products.