When people die without a will, the state’s intestacy laws dictate which heirs will inherit from the deceased person’s estate. Without a will, these heirs stand to inherit outright both personal belongings and money. Even with a will, a testator can decide which heirs inherit from the estate, but if there is no contingent trust set up for certain heirs, a financial inheritance can adversely affect these heirs.
The following five kinds of heirs are people who probably should not inherit large sums of money outright—either through a will or through the intestacy laws:
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.