Without a valid will, a person’s estate passes to their surviving heirs under intestate succession (i.e., ‘succession without a will’).

For young professionals finding their way in the world and just beginning the journey of building wealth, death can seem like a far-off abstraction. However, the cold reality is that no one ever knows what’s around the corner — health problems and freak accidents can happen at virtually any time.

What happens when all of a corpse’s money is in his cold wallet?

Although you may be excited about the prospect of receiving unexpected money, there are certain financial moves experts say you should make to make sure you’re prepared for that inheritance.

This is an important question to ask, because the answer could tell you whether you need to worry about estate taxes, beneficiary issues or probate concerns.