“Thought for the Day” #717 – by Stephen R. Elville, J.D., LL.M.

May 9, 2016

Yet another famous person has died without a will (apparently).  This is not unusual among the rich and famous, and in general an estimated fifty percent (50%) to fifty-five percent (55%) of people die intestate (without a will).  In the event of intestacy, the state provides for a statutory scheme of distribution.  Therefore, the lack of a will at death does not necessarily mean the estate will devolve into chaos.  However, it is clear that dying without a will or otherwise failing to address all estate planning options prior to death isn’t worth the risk.