Wednesday, February 15, 2012

What Is Intestacy?

Intestacy is one of those estate planning words that people know they have heard before, but cannot really give a definition when asked.  Simply put, intestacy means you have died without a will.  As a result, state statute will control the disposition of your probate property (property that does not have a beneficiary form).  The rules for distribution in Wisconsin are visually displayed in this chart.  Some people are fine with the State's assumptions, some are fine up to a certain point, and others disagree completely.  Take control of the situation by doing a will, avoid the intestate estate.

Photo credit: - free image

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