Quote:
Originally Posted by GP_Matt
I have been giving it some thought lately and am fairly unsure.
I am in my early 30's, married with no kids.
We have somewhat significant (to us anyways) assets and liabilities and such.
Everything in my name has my wife as a benefactor and vice versa or is in a joint account to begin with. We married when we were broke so neither of us came into the marriage with any real assets nor have we inherited or received any gifts of large value.
If one of us were to pass away without a will would everything just transfer to the survivor?
If both of us pass away do our parents split things equally or are siblings and more distant relatives included for a share. Or does it become a messy battle before the courts?
What if we are in an accident where one person is killed instantly but the other one survives for two weeks before succumbing to their injuries? Does the family of the longer living spouse collect everything?
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Yes, although you might not think you have much to you name, I believe that should you or/and your wife die, it will make it easier to those left behind to pick up the pieces.
Again, this is my opinion.
I will say if you do a will make sure you update it as major life events happen.