Legal Question in Wills and Trusts in North Carolina
Common death
My husband and I recently had wills written in which we named each other beneficiaries. We also set up trusts for our minor children in the event we both died. What would happen to our estate if we and all of our minor children (all the beneficiaries in our will) were killed in a common accident? All of our family lives out of state and we do alot of traveling, so this could be a possibility. We did not provide for this in our will. Would our estate then follow the laws of our state in determining next of kin to inherit our assets?
1 Answer from Attorneys
Re: Common death
In the event of a common disaster, your estates would indeed pass acording to the intestacy laws of your state, the same as if you have died without preparing a will.
If you think you would prefer a different distribution, you could have a "codicil" to your wills prepared since you only recently executed your wills. A codicil is simply an additon or change to the will and essentially leaves the bulk of your will unchanged. The cost of a codicil should be less than preparing an entirely new will.
I hope this helps answer your question.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
