What happens to my estate if I do not have a Will?
If you pass away without a will, you are said to die “intestate,” and your individual estate will pass in accordance with the State of New Jersey’s intestacy laws. In most cases, this does not mean that New Jersey takes your estate. Instead, it means that New Jersey law mandates who will receive your estate and in what portions.
If you are considering allowing your estate to pass through intestacy, understand that the process can be quite expensive and time consuming. In the case of a large estate, your money may be tied up for quite some time and depleted by fees and costs. With a smaller estate, it is even more important to keep every dollar possible in your estate to pass along to your loved ones. If you think you have decided not to have a will or other estate plan, you should consult with an experienced Toms River estate planning attorney to discuss how the law will apply in your situation and affect your estate and loved ones.
NOTE: This page is for general information only and is not to be relied upon. You should consult a Toms River attorney at Costanzo & Russom Law Group if you have questions regarding estate planning and how it can work for you.