What Happens if You Die Without a Will in Virginia?

No one likes to think about death. But for a moment, imagine passing away unexpectedly. What happens to your assets, your savings, and the cherished possessions you’ve accumulated throughout your life? If you don’t have a will, the answer might surprise you. In Virginia, the state takes control of distributing your assets according to their intestacy laws, which may not reflect your wishes or the needs of your loved ones.

Consider Sarah, a single mother with a young daughter. Without a will, if Sarah passes away, the state might distribute her assets equally between her parents and daughter. This could leave her daughter financially vulnerable, especially if her parents are unable or unwilling to provide full support. A will would allow Sarah to ensure her daughter receives the inheritance she intends and designate a guardian to care for her in her absence.

What happens if you die without a will? This blog will answer that question and explain the benefits of creating a will and other things to consider. Ready to get started? Contact the attorneys that do wills at McCarthy & Akers at (540) 722-2181 to schedule your consultation, ensuring your legacy and assets are safeguarded for the future.

Key Terms Defined

To ensure a clear understanding of the legal terms used throughout this blog, let’s define some key concepts:

• Intestate: Refers to someone who dies without a valid will
• Intestacy: The legal process of distributing the assets of someone who dies intestate, according to state laws rather than the deceased’s wishes
• Escheat: When no living heir can be found to inherit an estate, the assets “escheat” to the state
• Beneficiary: An individual or entity named in a will to receive a share of the deceased’s estate
• Executor/Executrix: The person named in a will to manage the estate and distribute assets according to the will’s instructions
• Guardian: An individual appointed by the court to care for a minor child’s personal and legal needs
• Probate: The legal process overseen by a court to administer the estate of a deceased person, including identifying and gathering assets, paying debts and taxes, and distributing remaining assets to beneficiaries according to the will (if one exists) or intestacy laws (if there is no will)
• Estate Planning: The process of creating legal documents and strategies to manage and distribute your assets during your lifetime and after your death.

Dying Intestate in Virginia

These are the significant downsides of dying intestate in Virginia, highlighting the importance of creating a will to avoid the following:

• Unintended Distribution: The state dictates who inherits your assets, potentially leaving out loved ones you intended to benefit or dividing your estate in unexpected ways.
• Family Conflict: Disputes can arise between relatives regarding the distribution of your assets, leading to emotional turmoil and costly legal battles.
• Loss of Control: You lose the opportunity to:
  • Appoint guardians for minor children: The court will decide who cares for your children, potentially leading to an outcome you wouldn’t have chosen.
  • Choose an executor to manage your estate: The court will appoint someone, who may not be familiar with your wishes or lack the expertise to handle your affairs effectively.
• Prolonged and Expensive Probate Process: Administering an estate without a will is often lengthy, complex, and incurs significant fees for legal and administrative costs.

Understanding Intestacy Laws in Virginia

While the specifics can get complex, here’s a simplified overview of how Virginia distributes assets under intestacy:

• Spouse and Children: If you have a spouse and children, your spouse may inherit everything or a portion of the estate, with the remaining share going to your children. How the remaining assets are distributed depends on the number of children and whether they are all from your current spouse.
• No Spouse or Children: If you have no spouse or children, your parents inherit your estate. If they are deceased, your siblings or other relatives may inherit, following a specific hierarchy established by Virginia law.
• No Living Relatives: In the rare case that you have no living relatives, your assets “escheat” to the state of Virginia.

Benefits of Having a Will

There are many benefits of having a will. Some of them include the following:

• Peace of Mind: Knowing your wishes are documented and will be respected offers comfort and security for you and your loved ones.
• Clarity and Control: You decide who inherits your assets and how they are distributed, ensuring your wishes are carried out.
• Protect Your Loved Ones: Ensure your spouse, children, or other beneficiaries receive the inheritance you intend.
• Minimize Conflict: A valid will reduces the risk of disputes and legal complications among family members.
• Appoint Guardians and Executors: Choose trusted individuals to care for your minor children and manage your estate efficiently, alleviating burdens from your loved ones during a difficult time.

Additional Considerations When Creating a Will in Virginia

Here are some additional factors to consider when creating your will:

1. Digital Assets

The digital age necessitates addressing your online presence and digital assets in your will. This includes:

• Online accounts: Specify how email accounts, social media profiles, and financial accounts should be handled after your passing. Consider designating beneficiaries or instructions for closure.
• Digital assets: Address ownership and distribution of digital assets like photos, documents, and cryptocurrency.

2. Tax Implications

Estate taxes can impact your beneficiaries depending on the value of your estate. Consulting with a tax advisor alongside your estate planning attorney can help:

• Minimize tax liability: Explore strategies to reduce the tax burden on your beneficiaries.
• Plan for potential taxes: Understand the potential tax implications and ensure your estate plan addresses them effectively.

3. Charitable Giving

If you wish to support specific charities after your passing, your will can be used to:

• Designate beneficiaries: Clearly specify the charities you wish to receive donations and the desired amount or percentage of your estate.
• Establish charitable trusts: Consider creating a charitable trust within your will for ongoing charitable contributions.

4. Beneficiary Considerations

Carefully consider your beneficiaries and potential complexities:

• Minor children: Appoint guardians to care for your minor children and manage their inheritance until they reach adulthood.
• Contingency plans: If a named beneficiary predeceases you, outline a plan for how their designated share will be distributed.
• Conditional gifts: You can attach conditions to specific gifts in your will, such as reaching a certain age or completing educational milestones.

5. Regularly Review and Update

Your life circumstances and wishes may evolve over time. Regularly review and update your will to ensure it reflects your current intentions and accommodates any changes in your family structure, assets, or desired beneficiaries.

Don’t leave your legacy to chance. Consulting with an estate planning attorney can help you create a personalized will that reflects your wishes and protects your loved ones. By taking this proactive step, you ensure your assets are distributed according to your desires and provide peace of mind for your family during a difficult time.

Take Action Now: Safeguard Your Legacy with a Will

Dying without a will can have significant consequences for your loved ones, leading to unintended distributions, family conflict, and a lengthy probate process. By creating a will, you can ensure your wishes are respected, protect your loved ones, and provide peace of mind for everyone involved. Ready to take control of your legacy?

If you’ve been searching online for “lawyers that do wills near me” or “estate planning attorneys near me” to find qualified professionals in your area, contact McCarthy & Akers instead. Our team is dedicated to making estate planning accessible, offering clear guidance tailored to your unique needs. Whether you’re looking to create a will or get started on a more comprehensive estate plan, our knowledgeable attorneys are ready to assist you.

Your legacy shouldn’t be left to uncertainty. Contact McCarthy & Akers at (540) 722-2181 or connect with us online for personalized assistance. With locations in Strasburg, Woodstock, Front Royal, Winchester, Manassas, and Warrenton, we’re conveniently situated to provide the support you need. Let us go to work for you to protect your legacy and give you peace of mind.

Copyright © 2024. McCarthy & Akers, PLC | Estate Planning Attorneys. All rights reserved.

The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country, or other appropriate licensing jurisdiction.

McCarthy & Akers, PLC | Estate Planning Attorneys
302 W Boscawen St.
Winchester, VA 22601
(540) 722-2181
https://mccarthyakers.com/