There are so many things to think about when considering a will. If you die without a will your assets pass through “intestate succession.” Read about what happens if you die without a will here.

There are some reasons that people overlook where it is recommended. Like all my blog posts, I try to leave out the fluff and cut to the chase, so here we go:

1. A beneficiary was in jail

Lets say someone you want to leave money to had spent time in prison. In Connecticut, when you die, the money you leave to that person will go directly to the state to repay the costs of their incarceration. I believe the current rate is around $140/day that a beneficiary will have to pay back out of their inheritance. The Department of Administrative Services will put a lien on your estate that has first priority. Read more here.

The point is, if you have a beneficiary in mind who has been to jail, it’s important to organize your estate plan so they are left out of your will.

2. A beneficiary was On medicaid

Likewise, the state recovers costs spent on Medicaid. Medicaid is a free healthcare program funded by the state and federal government. If there are outstanding Medicaid debts, typically from 55 or older, then the state will take a portion of the inheritance to pay back the lien.

3. You don’t want your kids to have anything

There are certain people who will automatically get an inheritance if there’s no will. Children and parents are the first to take a stab at your estate by intestacy laws. If you don’t want to leave a child anything then you MUST have a will to disinherit them.

4. bond requirement

The probate court requires a bond. Bonds can be expensive and add more time to probating your estate. In a will, you’re able to waive this requirement, saving your beneficiaries money.

If you need a will call 207 550 5604

Or email me at dresslerjake@gmail.com