What happens if I die without a will or estate plan?

If you die without a will or an estate plan, your assets will be distributed according to the intestacy laws of your state. Intestacy laws vary by state but generally, your assets will be distributed to your closest living relatives, such as your spouse, children, parents, or siblings. If you have no living relatives, your assets may be given to the state.

Without an estate plan, you also forfeit the opportunity to name guardians for any minor children you may have, and to specify how your assets should be distributed. This can lead to family disputes and other complications. It's always a good idea to have an estate plan in place, regardless of the size of your estate or your family situation.