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No will: what will happen to your assets?

Most of my clients think that if they die without a Will, all of their estate assets will go to their spouse. They are surprised to learn that is not the case in Pennsylvania. If you die without a Will and are married with children, the first $30,000 of your net estate assets are distributed to your spouse and the remaining assets are split 50/50 between your spouse and children. This can be especially problematic if you have minor children, as their inheritance has to be set aside until they are adults. Also, assets inherited by your children are subject to Pennsylvania Inheritance Tax, while assets received by your spouse are not.

You can avoid these problems by having a Will prepared by our office. It is a fast and easy process. Call 724-375-6683, or email me at CMcMillen@personallaw.com for a consultation.