Rob was a kind and hardworking man that everyone loved having around. Rob could fix things, and he was always willing to lend a helping hand. He wanted to make sure his family was taken care of, so he created a trust. But Rob got busy and never moved his house, bank accounts, or other property into the trust. He thought he had everything handled just by creating the trust, but sadly, Rob passed away without finishing his plan. He also never took the time to create his last will and testament. He just kept thinking that there would be time for it in the future.
Now, Rob’s family is confused. They thought the trust would handle everything, but it’s empty.
So, what happens next?
Since Rob didn’t have a will, the court will decide who gets his property using state laws. This
process is called
- Open a Probate Case: A family member will ask the court to open a probate case. The court will choose someone (an executor) to handle Rob’s estate..
- Identify Rob’s Assets: The family must figure out everything Rob owned—his house, bank accounts, car, and more.
- Pay Debts and Taxes: Before anyone can inherit anything, Rob’s debts and taxes must be paid.
- Distribute the Property: After debts are paid, the court will decide who gets Rob’s property based on the state’s intestacy laws. Usually, this means his closest family members.
Rob’s family learned an important lesson: having a trust isn’t enough. You must move your assets into the trust, and it’s smart to have a will too.
Now, they’re working through the probate process, and it’s been a bit stressful. They wish Rob had finished his plan to make things easier.