What if I have no heirs
Friends, employees, or nonprofit organizations can inherit your estate.All debts must be paid before anyone can inherit even if there is no will.If you want the courts and/or government to allocate or absorb your assets after death, simply do not create a will.Estate planning documents you need if you have no heirs.Maybe you don't want to leave any assets to a particular person but you have some charitable organizations or.Again, this is only the case if you have no spouse.
Estate planning is highly important even if you do not have any children or heirs to leave your assets to when you pass.Rather than let the state decide, people without heirs may designate a beneficiary to inherit their assets.Creditors will be given a certain amount of time to submit their bills.Some states require that you publish a notice in the local newspaper telling of the opening of probate.For information about trusts, go here.It can be a relative, friend, or charitable organization—anyone except the attorney who drafted your will.
However in the case where the deceased was the sole owner and leaves no heirs, their entire estate passes to the state via something in the law known as escheat.
