At a minimum, your estate plan should have a Last Will and Testament. In a Will, you outline how you want your assets apportioned, name the singular who will handle your estate, and elect a guardian for your minor children. Should you select to live without a Will—or any other estate preparation documents—you will have perish testate. Dying “intestate” means, in both North Carolina and Virginia, that your assets will pass through the intestacy laws of the state you reside in rather than according to your wishes. You will have no power over who will get your assets, who will handle your estate, or who will increase your children.
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