Be aware of the "Inheritance" (Intestate Distribution) rules
If you die with a
Last Will, it means that you died "Testate"
If you die without a Last Will, it means that you died "Intestate"
If you die Intestate, your Assets
(that do not pass to the surviving joint owners, via Property Law, or to the designated beneficiaries, via Contract Law),
will pass in accordance with the Intestate Laws.
Intestate Examples
If you die Intestate leaving a spouse and children, all of whom are children of your spouse, the Intestate Laws state that your surviving spouse receives the first $30,000.00 plus one half of the balance of your estate, and your children will receive the remainder of your estate equally. If you die Intestate leaving neither a spouse nor children, your estate will pass to your parents, if your parents are alive; otherwise your estate will pass to your siblings.