Whenever someone dies without leaving behind an enforceable will, intestacy laws apply to anything in their estate. Leaving inheritance and other matters up for the state to decide often has unintended consequences, delays, and disadvantages for surviving family members. There are several ways a valid will can prevent that from happening. A knowledgeable Illinois estate planning lawyer can explain the drawbacks of intestacy laws and help you draft a will you can be comfortable with.
Reason #1: Decision-Making
Who Gets Your Assets?
If you die without leaving a valid will, you are not voicing your wishes for how your assets should be divided. The power to make those decisions is transferred to the state.
The Illinois Probate Act has guidelines for such situations: if you have a spouse and children when you die, assets are split equally among them, with your spouse receiving one half and the other half divided by any children; if you do not have a wife or children, your assets might go to your parents, siblings, or even more distant relatives, depending on your specific situation; if the state cannot locate any eligible heirs, your estate could go through the escheat process and be claimed by the state of Illinois.