No one likes to think about their own death, but it is still critical to plan for the inevitable. A will is an essential component of estate planning, but many people neglect to create one. In cases where someone dies without a will, their property will be distributed according to state law. In this blog, we will explore what happens if you die without a will in New Jersey and why it is important to create a will.

If you pass away without a will, your assets will be distributed in accordance with state law. In New Jersey, the law dictates that a spouse and children receive the entire estate if there are no living parents or siblings. If there are parents but no children or spouse, the parents will receive the estate. If there are siblings but no surviving spouse, children, or parents, the assets will be divided equally among the siblings.

If you do not have any living relatives, or if your relatives cannot be found, your assets will go to the state of New Jersey. This is known as escheat and serves as a last resort when there are no living heirs.

It is also important to note that without a will, the state will appoint an administrator to distribute your assets. This process can be costly, time-consuming, and may lead to family squabbles over assets. By creating a will, you can avoid all of these issues and ensure your wishes are carried out properly.

Moreover, if you have minor children, it is imperative to create a will as it determines who will become their guardians in case of your death. It also enables you to set up a trust for the benefit of your children and your relatives.

In conclusion, creating a will is essential if you want to ensure your assets are distributed according to your wishes in New Jersey. Without a will, your assets could end up with family members you never intended to receive them, or be turned over to the state. At Velasco Law Office, we provide comprehensive estate planning services to ensure that your assets are protected and distributed the way you want. Contact us today to schedule a consultation.