Having no last will and testament means leaving many unanswered questions.
If you die without a will, it will not affect you.
You are dead.
Your loved ones will be the ones dealing with the consequences of your actions.
According to a recent Mic article titled “How to write a will — and what happens when you die without one,” having no will leaves your family guessing about your intentions.
It allows you to name an executor for your estate and a guardian for your minor children.
Without a will, your loved ones will not only be in mourning but will also experience the unnecessary confusion and stress associated with your not having a will.
So, what happens specifically if you die without a will?
Each state has "intestacy" laws.
They are not all the same.
These laws are usually affected by your legal and family status.
For example, if you are married with no children, then your assets pass to your spouse.
If you are married with children, then part of your assets may pass to your spouse and children.
If you are single with children, your children inherit everything.
If you are single with no children, your assets may pass to your parents.
If you are single with no parents or children, your assets may pass to your siblings.
If you have none of the above, expect extended family members to be in the hunt.
These are general guidelines.
They may not apply to your specific state.
As you can see, having a will is a wise choice.
Some people also choose to go beyond a will and set up a living trust.
This legal instrument distributes your assets directly rather than through a probate proceeding.
It also affords more privacy, since all wills are public records.
Work with an experienced estate planning attorney to create the best plan for your specific situation.
Reference: Mic (August 31, 2018) “How to write a will — and what happens when you die without one”