The Importance of Updating Your Will
Knowledgeable Will and Estate Planning Attorney
An effective estate plan can provide peace of mind for you and your family. Please contact Attorney Elizabeth A. Edwards to discuss your estate planning needs.
It is prudent to update your estate plan every five (5) years or so.
In addition to changes in the tax laws, certain events may cause a change in your will’s formula of distribution. For example:
- Illness
- Birth or adoption of a child
- Marriage
- Divorce
- Annulment
In addition, other events such as
- Retirement
- Disability
- Serious injury or medical problems may suggest the need to review your estate plan.
Intestacy
When an individual dies without a will it is called “intestacy.” If an individual dies owning property in his/her own name, then it is necessary for an appropriate person, usually a family member, to make application to the Probate Court for administration of the individual’s estate. In the case of intestacy, since there is no will, the property is distributed in accordance with the Connecticut Laws of Decent and Distribution.
Property Distribution When There is No Will
| If the individual is survived by: | Then: |
| Spouse, and children of both decedent and spouse | Spouse takes first $100,000 + half of remainder. Children take other half. |
| Spouse, and children of decedent, one or more of whom is not the child of the spouse | Spouse takes half. All children share other half equally. |
| Spouse and parent or parents (no children) | Spouse takes first $100,000 + 3/4 of remainder. Parents(s) take other 1/4 |
| Spouse only (no children, no parents) | Spouse takes all |
| Children only (no spouse) | Children take all |
| Parent(s) (no spouse, no children) | Parent(s) take all |
| Brothers and sisters (no spouse, no parents, no children) | Brothers and sisters take all |
| Next of kin (no spouse, no children, no parents, no brothers or sisters) | Next of kin takes all |