Dying intestate means that a person has died without a will stating how his or her property (called an estate) is to be distributed. According to a recent Gallup poll, fewer than half of U.S. adults have a will in place. Many people delay creating a will because they believe they’re too young, don’t have enough assets, or assume their family will know what to do. However, as explained by the Ohio State University Extension, a will is a material legal document that outlines your specific instructions, and nobody else can decide what to do with your assets. Without this crucial document, the consequences can be significant and often unexpected.
Your Assets Will Be Distributed According to State Law, Not Your Wishes
Every state has their own established intestate process that determines whether a person’s assets will be given to their spouse, children, parents or siblings. When someone dies without a will, their assets are frozen until the court system combs through every detail of their estate. As detailed by the Ohio State Bar Association, when the person who has died (the decedent) leaves a will, the probate court normally appoints the person named in the will to serve as executor of the estate. Without your guidance through a will, the distribution of your assets may not align with your personal wishes, and loved ones you intended to provide for may receive nothing.
Your Children’s Future May Be Decided by the Court
Perhaps the most heartbreaking consequence of dying without a will involves your children. According to Trust & Will, children’s rights are put into the hands of the court if you pass away before creating a will or naming your offspring as beneficiaries. A will can appoint guardians and successor guardians if minor children are present. You can also name guardians and set up trusts for those children with specifically named trustees under your will to manage assets for them until they can take care of their own finances. Without these designations, a judge who doesn’t know your family dynamics will make these critical decisions about who will raise your children and manage any money they inherit.
The Probate Process Becomes More Complicated and Expensive
Administering an intestate estate is usually more expensive and time-consuming than probating an estate with a valid will. Without a will, the court must first determine the heirs of the decedent before a representative can be appointed. This is done through a legal process called a “determination of heirship.” This process can last months and add thousands of dollars of expense to an otherwise ‘normal’ probate, especially if there is a dispute concerning the legitimate heirs of the decedent. The Ohio State Bar Association explains that when appointing an administrator of the estate, state law typically requires that the court appoint the surviving spouse of the decedent, or if none, or if the spouse declines, the court will appoint one of the next of kin of the decedent. This entire process creates unnecessary burdens for your grieving loved ones.
Important Relationships May Not Be Recognized
TD Bank points out that because state law may not recognize relationships outside of marriage or immediate family, if you want to provide for a live-in partner, a close friend, or a family caregiver, you’ll need a will that explicitly states who should inherit your assets. If they’re not related to you by blood or marriage, they may not be provided for under laws of intestacy in many states. This means that without a will, your unmarried partner, close friends, or caregivers who have been important in your life may receive nothing from your estate, regardless of your wishes. Even in cases where you have stepchildren whom you’ve raised but never legally adopted, they may have no inheritance rights without explicit provisions in a will.
You Miss the Opportunity to Leave a Legacy
According to TD Bank, your will can stipulate your support of charitable organizations after your death, which can have a huge impact on a cause you’re passionate about. You can also decide to make legacy gifts to a cousin, or someone who’s been a great caretaker or friend over the years. By preparing a will, these decisions will be specified by you. The American Bar Association notes that a properly crafted will allows you to create a lasting impact through charitable giving that reflects your personal values. Without a will, you lose the opportunity to support the causes you care about and acknowledge the people who have made a difference in your life.
Take Control of Your Legacy Today
A will is the basis of an estate plan, and often the most important estate planning tool. As the Ohio State University Extension emphasizes, every person 18 or older should have a will so that he or she can decide who gets his or her property, rather than the state deciding. The expense of making a will should not keep you from making one. Some attorneys will execute a will for a low fee. The AARP provides additional resources on finding affordable legal help for creating a will.
Don’t leave your legacy and your loved ones’ future to chance. Contact our experienced estate planning attorneys today to schedule a consultation. We’ll guide you through the process of creating a comprehensive will that protects your assets, provides for your loved ones, and ensures your final wishes are honored. Your family deserves the security that comes from proper planning—and so do you.
