If you own a home or are blessed to own multiple homes, then one day when you pass on, your family will be able to take on the blessing. I’ve sometimes heard people say “I only have a house and not much else so there’s not really a need for me to have a will.” Some savvy folk will say “Real property doesn’t even pass through the estate, so why would I need a will if all I really have is a house.” But one house, let alone multiple plots of land, is responsibility, time, money, and potentially, a real headache. In NC when you pass away, it is true that your real property may not pass through the estate.
What this means is that if you plan with a will, then barring significant problems, the real estate is understood to have passed as designated. However, if you do not have a will, then the real estate is still understood to have passed on immediately, but as designated by the laws of intestate succession.
Do you know the laws of intestate succession? Did the State of North Carolina correctly determine how you wish your real property to be divided? Property passed without a will in place is almost guaranteed to be divided between multiple individuals. No one is responsible for telling those individuals that they immediately hold an interest in real property when there is no will. Close immediate family members may innocently, though incorrectly, assume certain rights to property without knowing that others have rights in the same property.
If enough time passes before family figures the picture out suddenly the discussions will sound like divorce proceedings. “Why didn’t you pay my share of the rental income to me?” “I made substantial improvements to the home, so I should receive more from the sale of the house.” Etc. One of the primary reasons for having a will is to make sure that your family and friends don’t have to fight over the things you leave behind. So even if you only have one house, your family still needs you to write a will.
