What happens if you do not have a will or trust?

Video Transcript

If you die without a will or a trust in place, your beneficiaries will be determined under the law of the state in which you reside upon you death. That means that the beneficiaries who you may want to inherit your estate may not depending on what the state law says. In addition, the person in charge of the estate, often times called the executor or personal representative, will not be determined by you, but will also be determined under state law.

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