what happens to my "assets" once i ctb

[pleasexbexover]

hello~

ive literally spent hours researching this and cant find a definitive answer. i live in one of the carolinas, and am 24 owning the house that my dead parents left to me. since i dont have any children if i dont write a will what would happen to the house/anything in my name? not really worried about what happens to my car. the house has a $22,000 USDA home improvement loan on it from 2022 as well, and is in need of several major repairs and replacements.

no siblings (that i associate with; they are from my mother's first marriage) the only surviving family i have are her siblings and their respective immediate families.


thank you in advance

 

[J&L383]

(I'm not an attorney but used to be married to an estate attorney). It does get complicated in your situation, the government would somehow track down your relatives in varying degrees of how they are related but I don't have the details on that. If you did have three brothers for example they get the remains of your estate (after the loan and any taxes or liabilities you have are paid off) in equal shares. Or if you had a spouse everything would go to your spouse. So the short answer it would go somewhere to some family members no matter how distant. If it doesn't matter, then don't worry about it but a simple will wouldn't hurt. I'm not sure if it's currently valid in your state but it used to be you could hand-write a will and it's considered valid, although it would have to be approved in probate court. Pay an attorney a couple hundred dollars and get a proper will is my suggestion.

 

[pleasexbexover]

the court tool my mom's handwritten will (the one that she left literally everything to me in), and then when she was in the hospital, one of my uncles (idk how) printed out like a fully legit will, that i still have, that they also said would have worked

thank you
also i meant to say; what if i dont WANT anyone to have the house? like i don't think there's any money in it/my family wouldn't profit off of it much (if at all)

if i just didn't write a will would it go to the state and they divide my assets like you said

 

[Forever Sleep]

I believe they will try to look for relatives/ next of kin first. My neighbour died intestate (without leaving a will.) They published a small request in newspapers, asking anyone who believes they have a claim on the property and assets to come forward. Seeing as he was estranged from his family, I'm not sure they would. Maybe only if they or their friends happened to see the article in the newspaper. Otherwise though, I imagine our governments seize everything. (This is in the UK.)

If you specifically don't want your family to inherit or, to only inherit certain things, then I imagine you would need to make a will to say that. Otherwise, I imagine it all just defaults to the laws in your country. You probably need to do research where you are to find out what those are.

There seem to be all sorts of ways to make a legal will these days. The obvious one is to go to a Solicitor- who will obviously charge. But, I've even seen guides in shops/ online. Plus, certain charities seem to offer a service now- presumanbly in the hopes of receiving a donation.

 

[pleasexbexover]

I believe they will try to look for relatives/ next of kin first. My neighbour died intestate (without leaving a will.) They published a small request in newspapers, asking anyone who believes they have a claim on the property and assets to come forward. Seeing as he was estranged from his family, I'm not sure they would. Maybe only if they or their friends happened to see the article in the newspaper. Otherwise though, I imagine our governments seize everything. (This is in the UK.)

If you specifically don't want your family to inherit or, to only inherit certain things, then I imagine you would need to make a will to say that. Otherwise, I imagine it all just defaults to the laws in your country. You probably need to do research where you are to find out what those are.

There seem to be all sorts of ways to make a legal will these days. The obvious one is to go to a Solicitor- who will obviously charge. But, I've even seen guides in shops/ online. Plus, certain charities seem to offer a service now- presumanbly in the hopes of receiving a donation.

thank you friend

 

[tpboy]

i am in your same situation. all you have to do is write a very simple will nd it can cut out the family if that is what you choose. in our case i never hear from family so it will be donated to charity.

 

[Linda]

Write a will. (How to do that may vary from state to state, but usually it isn't difficult.) The yo can specify exactly what is to happen to your assets after your death, Make sure that the original of the will, or a legally certified copy, is held by someone you trust. That is protection against anyone who dislikes what is in your will finding it and destroying it. You could deposit it with a lawyer, especially if that lawyer is the person who will administer your estate after you have died.