Sure they would. You get statements in the mail, don’t you?
My aunt died two years ago intestate. It took almost two years to settle her estate because she owned a business.That’s how we discovered where her assets and debts were: through statements which were mailed to us and forwarded to the executor (her mother was chosen).
I’d imagine the process is pretty slow if you die without a will even if you don’t own a business, so there would be plenty of time for your family to get all of your statements in the mail and find out where your assets are located.
My parents are listed as my beneficiaries, etc., but I’ve told them that the estate should go to my nephews. As my parents get older, or when my nephews are older, I’ll probably name my brother or them as beneficiaries.
Currently, it’s set up so that Mr. Stuff and I get everything if the other one dies. If we have children, it will go to them. If we don’t have children, it goes to siblings or their children.
Anybody under 25 when they inherit gets everything put into a trust to be distributed by my brother for their respective post-secondary educations. Anything that’s left over when they’re 25, they can blow through however they like.
My parents are on my insurance from work (nominal amount for my “final expenses”). My retirement and net assets (nominal amount after bills are paid) are to be donated, I think to the Catholic Worker at this point.
I name my younger brother and (even) younger cousin as beneficiaries whenever I have to assign some for life insurance policies. If I marry, that’ll probably change, but as for family, they’re the two I’m most unlikely to outlive. god willing
Yeah, I forced my parents to update theirs (last written in a holographic province when my sister and I were minors!!!) last year and insisted that my sister and I get some too. I wasn’t too concerned about the property distribution, all 4 of us were more concerned about the living will/health proxy issue.
I ended up as the executor of everyone’s will except my own, apparently! My sister, similarly, is the health proxy, whatever, for everyone else except herself.