Good Question: What Happens If You Don't Have A Will?
MINNEAPOLIS (WCCO) -- Fifty-eight percent of American adults do not have a will, according to a new survey from caring.com. And only a third of people with children have a written plan in place.
So, what happens if you do not have a will?
"The state of Minnesota has, in essence, written one for you," said Amy Papenhausen, an estate attorney with Gray Plant Moody.
Minnesota law says everything goes to your spouse if you are married, usually.
For example, if you have a spouse, but children from another marriage, then the spouse may only get the right to live in your home before it passes back to the children.
If someone is not married, the assets go to the children.
No children? Then, they go to the parents.
If the parents have passed, the siblings will get what you leave behind.
No siblings? Then Minnesota law requires an heir search to be done.
"We're going to go up to your grandparents and start going out the family tree," Papenhausen said. "We're going to try to figure out do you have a second cousin somewhere."
When there are no heirs, which is very rare, the assets can go to the state of Minnesota.
People cite lack of time, forgetfulness and an unwillingness to tackle difficult topics are reasons for not creating a will. Papenhausen says it is worth the time and money because she has seen people write wills that were nor legally enforceable because they did not conform to Minnesota law.
A person writing a will in Minnesota must be 18 years old, be of sound mind and have an understanding of what they have. Two witnesses must also sign the document.
Others said they do not have enough money or assets to justify a will. Papenhausen says spending money on a will upfront will save money and headaches for your heirs.
It also locks in who you would want to take care of your children were you to die.
