What if I die without a will in California?

What happens if you die without a will?  California law has a plan for you - it's called intestate succession.  The word "intestate" refers to the situation when people who die without a will.  In most cases, your assets will have to go through the Probate Court system (a judge basically supervises the transfer of your assets).  Remember, your assets don't pass to others by magic!  This process costs about 5% of the gross estate.  Here is the distribution scheme California imposes unless you have a will or a living trust that says otherwise:

1)  If you die with children but no spouse, parents, or siblings, then your children inherit everything.  If you have minor children, this may not be the best idea.

2)  If you die having a spouse but no children, parents, or siblings, then the spouse inherits everything.

3)  If you die with parents but no children, spouse, or siblings, then your parents inherit everything.

4)  If you die with siblings but no children, spouse, or parents, then your siblings inherit everything.

5)  If you die having a spouse and children, the spouse inherits all of your community property and 1/2 or 1/3 of your separate property, and your children inherit 1/2 or 2/3 of your separate property (depending on number of children you had).  

6)  If you die with a spouse and parents, your spouse inherits all of your community property and 1/2 of your separate property, and your parents inherit 1/2 of your separate property.

7)  If you die with a spouse and siblings, but no parents, and spouse inherits all of your community property and 1/2 of your separate property, and your siblings inherit 1/2 of your separate property.

As you can see, California has a plan for you if you don't create one in advance.  In many cases, your estate will have to pass through the court system before anyone can inherit anything.  Wouldn't it be better if you had this all planned out in advance?  Wouldn't it be better to keep the court system out of your business?  Wouldn't it be great to protect yourself and your family?

If you need help with your estate plan, please call (661) 414-7100 and inquire about a consultation.