Even if you don’t have a lot of property, you can benefit by creating an estate plan that picks how your property passes after you pass away. If you don’t set your choices out in a legally acknowledged way, Arkansas state law makes the choice for you through its laws of intestate succession. These laws are rather complex and can lead to a number of different situations, so you ought to talk to a competent estate planning lawyer for particular guidance about what might occur to your estate.

Situation 1: You leave kids, but no partner. Let’s state you had 2 kids however both are single and your marital relationship ended and you never ever remarried. In this situation, your former spouse receives no property and your 2 children get an equivalent portion of your estate.
Scenario 2: You leave just a spouse. If you die leaving a partner however no kids, your spouse gets one hundred percent of your estate. If your marriage lasted less than three years, your spouse just takes 50 percent of your estate. The other 50 percent passes to your parents, siblings or other family members depending on who lives.

Scenario 3: You die without a making it through partner or kids. Let’s state you were married but never ever had kids and you die after getting a divorce. In this scenario, your parents stand to acquire your property. If your moms and dads are no longer living, your property passes to your closest family members, be they brother or sisters, uncles, aunts or more remote relations. If there are no relations, your estate passes to the state of Arkansas.