What Happens if I Die Without a Will in New Jersey?

Do you trust the State of New Jersey to decide who gets your assets when you die? Unlikely. But this is exactly what will happen if you die without a Will in New Jersey.

So first, who needs a Will?

Basically, anyone who wants to care for their loved ones. Likewise, anyone who doesn’t want to leave it to our great state to make decisions.

New Jersey Law

In the event a loved one dies without a will in New Jersey, a court will distribute your property according to state law. This means your assets will be divided among your closest relatives - your spouse, children, parents, or siblings. This process is called “intestacy” or “intestate succession.”

It’s not all bad news. There are certain assets that are not impacted by intestate succession laws. For example:

• Life insurance policies with a designated beneficiary.
• Retirement accounts (IRAs, 401Ks, etc.) with a designated beneficiary.
• Property entered into a living trust.
• Assets with a transfer-on-death designation such as real estate, securities, automobile titles, and bank accounts.

What if you die without a will and you don’t have any family? If you don’t have any family - spouse, children, siblings, parents, grandparents, aunts or uncles, great aunts, great uncles, nieces or nephews, cousins of any degree, or descendants of a spouse who dies before you - only then will your property be forfeited to the state.

As you can see, if you want to control the distribution of your assets, an estate plan, especially a will, is necessary. So before you die without a Will in New Jersey and lose control of your final wishes, give us a call.