Wednesday, May 3, 2023

The Confusing Fallout of Dying Without a Will

Estate planningMillions of Americans still have no written will, which has potentially devasting consequences for their heirs. A range of state laws dictate who gets what assets, and unsuspecting heirs may face hefty surprise tax bills.

Danaya Wright, a University of Florida law professor, argues that the rules are out of touch with today’s family structures. Therefore, it is essential to know the state laws to ensure all assets are covered. While a lack of awareness of the law contributes to why people do not have an estate plan, many also hesitate to make tough decisions and deal with complex family dynamics.

For more information see Ashlea Ebeling “The Confusing Fallout of Dying Without a Will” The Wall Street Journal, May 2, 2023.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

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