7

What would happen with my savings on a bank account and personal property in a case of death? I don't have a family, only a brother and separated parents. Do I need to think about a will?

7

Dying with no will is to die "intestate" and the rules (order) of inheritance are dictated by the state. It's cheap enough, everyone should have one if only to make their wishes clear. On a personal note, if my wife, daughter and I all die in an accident, my will states that the designated beneficiaries must show the executor of my estate a valid will as a condition of their inheritance. If I'm gone, I don't actually care where they choose to leave it, it will be their money, but they need to be responsible enough to spell out the next beneficiary.

2

If you get a will now it will prevent a dispute between your parents and a brother who gets what. There are laws that define a priority if there is no will but it still can get messy among relatives.

On the other hand i think you have to state a beneficiary when you open an account. If that's the case and these are the only assets you have you probably don't need a will.

  • I think the potential for dispute is actually smaller without a will. Without a will, there are inheritance laws which dictate who gets what. Those laws are not very open to interpretation, so there isn't much to dispute. But when there is a will, then people can make legal arguments against that will (it's unclear, it's illegal, it's unenforceable, it's unethical...) or dispute the authenticity of the will itself. This can get far more messy, IMO. – Philipp May 29 '19 at 11:55
-2

Make a will whenever you have properties. Think about 'whom' you want to benefit, and go with that.

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