Even if you do not have a lot of property, you can benefit by developing an estate plan that chooses how your property passes after you pass away. If you don’t set your choices out in a legally recognized manner, Arkansas state law decides for you through its laws of intestate succession. These laws are quite complicated and can result in a number of various circumstances, so you must speak with a qualified estate planning lawyer for specific recommendations about what might take place to your estate.

Circumstance 1: You leave kids, however no spouse. Let’s state you had 2 kids but both are unmarried and your marriage ended and you never ever remarried. In this scenario, your former spouse receives no property and your two children get an equal portion of your estate.
Scenario 2: You leave just a spouse. If you die leaving a partner but no kids, your partner gets one hundred percent of your estate. If your marriage lasted less than three years, your spouse only takes 50 percent of your estate. The other half passes to your parents, brother or sisters or other relatives depending upon who lives.

Scenario 3: You pass away without a surviving partner or children. Let’s say you were married however never had kids and you pass away after getting a divorce. In this scenario, your moms and dads stand to inherit your property. If your moms and dads are no longer living, your property passes to your closest loved ones, be they siblings, uncles, aunties or more distant relations. If there are no relations, your estate passes to the state of Arkansas.