What Happens When You Die Without a Will

Tony Molina, CPA
April 3, 2025

What Happens to Your Legacy When You Don't Have a Will

What Is a Will?

A will is a legal document that specifies how you want your assets distributed after death. It serves as your voice when you're no longer able to speak for yourself, allowing you to direct who receives your property, who cares for your minor children, and who handles the administration of your estate. Unlike other estate planning tools, a will only takes effect after you pass away and must go through the probate process to be executed.

The Hidden Costs of Dying Without a Will

When you die without a will, you die "intestate." This single word transforms your legacy into something beyond your control:

Your state takes over. Rather than your wishes determining who receives your assets, state intestacy laws create a formula for distribution that rarely matches what you would have chosen.

Your children become vulnerable. Without named guardians, the court decides who raises your minor children, potentially placing them with family members you would never have selected.

Your loved ones wait. Probate court proceedings typically delay asset distribution for 9-18 months, often longer for complex estates. Meanwhile, your family may struggle financially, unable to access funds they desperately need.

Your privacy disappears. Probate is public. Your financial details, family dynamics, and asset values become available for anyone to examine.

Your estate pays more. Attorney fees, court costs, and administrator expenses can consume 3-8% of your estate value—money that should have gone to your loved ones.

Crafting a Will That Protects What Matters

A properly structured will does far more than distribute assets. It:

  • Names guardians for minor children
  • Appoints an executor you trust to manage your estate
  • Provides specific instructions for family heirlooms and sentimental items
  • Creates a framework for business succession
  • Establishes parameters for charitable giving

Beyond the Basics: When Your Will Needs Company

For high-net-worth individuals, a will often works best alongside other estate planning tools:

Revocable living trusts bypass probate entirely, maintaining privacy and providing immediate asset access for your family.

Pour-over wills capture any assets not already transferred into your trust, creating a safety net for comprehensive planning.

Advance healthcare directives and powers of attorney manage healthcare and financial decisions if you become incapacitated.

Taking Action: The Path Forward

Creating a will doesn't need to be complicated:

  1. Compile a comprehensive list of your assets and debts
  2. Identify guardians for minor children and executors for your estate
  3. Document specific bequests for heirlooms or sentimental items
  4. Consult with an attorney who specializes in estate planning for high-net-worth individuals

While online will services exist, they rarely accommodate complex financial situations. Professional estate planning typically costs between $300-$1,000 for basic wills, with comprehensive planning ranging from $3,000-$10,000+ depending on complexity.

The investment protects substantially more than it costs.

Your legacy deserves protection. Don't leave it to chance.

Want to learn more?
Set up a 1:1 call with our team to get a walk through of the product. Just take a moment to create an account and fill out our form.
Book a Demo
Explore More