Dying Without a Will HUGE Estate Planning Mistakes Explained!

Let's say someone has no will, nothing. They just pass away with assets. What happens? And I'm bringing this out because this will help us understand even more why estate planning is so important. So, >> Sure. Yeah. >> So, that that if someone passes away without a will, let's say they did no estate planning at all, they don't have a will. Um, that is called passing away intestate. Okay? Passing away without a will. And it obviously depends if they're let's take a a husband and wife and unfortunately this comes up husband and wife one of them passes away um and they don't have a will in place and a will could have said that all my assets would go to my surviving spouse. Okay. Without a will, the laws of intestate, meaning the laws of passing away without a will, um, are that the surviving spouse would get $50,000 plus half of the estate and the children would get the other half of the estate. Um, where that becomes problematic is number one, if that wasn't your intention, your intention was to leave everything to your surviving spouse. And number two is if you have minor children, they are now the recipient of half of the estate. Um, which becomes problematic. If they're minors, they need a guardian. The court gets involved and a lot of hurdles are experienced as a result of not having a will.