Most people think that estate planning is for the rich. Or for the elderly. Or “Later, when things have calmed down.”
This is exactly how families end up in the courtroom.
According to Trusts & Will’s 2026 Estate Planning Report, released in April 2026, 56% of American adults do not have any estate planning documents. No desire. no trust. No power of attorney. Nothing.
Worse, only 26% of Americans now have a will – down 5 percentage points from 31% in 2025. Awareness has increased. Online tools are easier than ever. And the action has actually gotten worse.
I have been a CPA since 1981. I’ve been around many families trying to clean up after a loved one who wanted to get around to it. Husband and wife are learning that all possessions are not theirs. Ex-spouse receiving 401(k). Children inherit everything they learn from their step-parents. The brothers and sisters are fighting over who will get what.
Here are seven things that happen when you die without a will — and why it’s the most correctable financial mistake you’ll ever make.
1. The state default almost never matches what you really want
When you die without a will, your state writes the will for you. These are called intestate succession laws, and they vary wildly from state to state.
In some states, your spouse gets everything. In others, your spouse divides your property with your children, your parents, or even your siblings.
The state does not know whom you loved most. It doesn’t know your blended-family dynamics. Not knowing whether your favorite niece babysat you or your brother hasn’t talked to you in a decade. It just follows a formula based on bloodline.
Your family gets whatever your state’s formula distributes. And it’s almost never the way you would have chosen.
2. Unmarried partners do not get anything even after living together for 30 years
This is the most painful outcome I have seen over and over again.
You can live with someone for 30 years. Build a house together. Raise children together. Share every dollar. And if you die intestate and are not legally married, your partner will get exactly $0 from your estate.
This goes to all your blood relatives – children, parents, siblings, cousins – even those you haven’t spoken to in years. Your partner may be evicted from your shared home. They may lose access to joint accounts. They can be excluded from every decision.
A will will solve this in one document. Without it, you’ve left the person you love most – legally.
3. A judge – not you – chooses who will raise your children
If you have minor children and you die without a will, the court appoints a guardian.
That guardian could be your sister, whom you wouldn’t trust with houseplants. It could be your in-laws, whom you love but disagree with on every important thing. This may be a relative whom the judge deems suitable but whom you yourself would never have chosen.
Family members may fight over custody. Custody battles can last for months or years. Your children sit in limbo while the courts deal with this.
A simple will lets you name a guardian of your choice with backup. This is the most important reason for any parent of minor children to have a will, regardless of their net worth.
4. Probate costs 3% to 10% of your estate – and no will makes it worse
Even with a complete will, your estate typically must go through probate. This process verifies the will, pays creditors, and distributes the estate. According to SmartAsset’s analysis, probate costs typically range from 3% to 10% of the estate’s value. (You can find a state-by-state list Here.)
Dying without a will makes it more expensive – and slower, too.
The court has to determine the heirs (sometimes hiring a search firm to locate distant relatives). In this, the value of all the assets will have to be determined. This has to handle disputes between family members who think they should get more.
On a $500,000 estate, the 3% to 10% range is $15,000 to $50,000 – which goes toward fees, attorneys and court costs. That is money that your family should have received.
One thing before we go any further – the financial world has become noisier and duller than ever. Heat takes over everywhere. Almost none of these are worth your time. I’ve spent over 40 years avoiding noise so you don’t have to. Sign up for the FREE Money Talks newsletter – 10 seconds, no spam, just what matters.
5. Your assets – and your debts – become public record
Probate is a public process. Every filing, every asset, every debt – it’s all accessible to anyone who cares to look.
This means scammers can get your widow’s home address and financial details. This means separated family members can see exactly what was delivered. This means that your children’s inheritance will be visible to anyone with an Internet connection and an agenda.
A properly structured estate plan, usually involving a revocable living trust, can keep much of this out of the public record. Dying without a will guarantees maximum risk.
6. Your children may lose government benefits or get money they can’t manage
There is a hidden trap here that no one wants.
If you have a disabled child who is receiving Medicaid or Supplemental Security Income, inheritance can disqualify them, sometimes permanently. The state limits how much money a beneficiary can keep and still receive government assistance.
A properly drafted special needs trust avoids this. Dying without a will doesn’t allow this – your child inherits the assets outright, and the benefits disappear.
The flip side: An 18-year-old can inherit a meaningful amount of money without any oversight. no trust. No railing. A teen with $200,000 and no guidance is a story that almost always ends badly.
A will lets you order distributions – say, half at 25 and half at 30 – so that the children actually grow in responsibility.
7. You are leaving your family in the lurch in court at the worst moment
Grief is your full-time job.
Now imagine doing this while traveling to probate court, paying for lawyers, arguing with siblings, looking for paperwork, and trying to settle an estate that is in default by the state.
I have seen families spend 18 months to three years on intestate cases that would have taken six weeks with a proper will. Holidays ruined. Relationships are damaged, sometimes permanently.
No matter what, your family will have to mourn. The question is, will they have to fight in court while doing so?
Will does not cost much. It doesn’t take much time. And it’s the sweetest financial gift you can leave behind.
How to Fix It – Even If You’ve Been Avoiding It for Years
It’s the rare financial fix that actually takes an afternoon.
- Decide what you want. Who inherits what? Who raises your children? Who will handle your medical decisions if you can’t do so? Before doing anything else, write this down in plain English.
- Draft documents. A basic will and durable power of attorney and healthcare proxy are a minimum. You can get one in minutes for $199. For most people, that’s all. Our list of 8 essential legal documents to walk you through the entire set.
- Select your device. Online services like Trust & Will, LegalZoom, or FreeWill handle straightforward estates for $100 to $300. For more complex situations (blended families, business ownership, special needs, large estates), hire an attorney. Our guide to choosing an estate planning attorney explains what to ask.
- Update beneficiaries on each account. Life insurance, 401(k), IRAs, brokerage, bank accounts. Beneficiary designations take precedence over your will. Make sure they are current, especially after divorce, remarriage or death in the family. Remember: If your ex-spouse from three marriages ago is the beneficiary of your life insurance policy, there is nothing a lawyer or court can do about it.
- Tell people where to find it. A will that no one can find is not a will. Tell your spouse, your children, or whoever is named as executor where the documents live.
- Review every three to five years. Life changes through things like marriage, divorce, birth, death, and purchase of large property. Your documents should also change. Our list of common estate planning mistakes is worth re-reading from time to time.
- Have awkward conversations. Tell your family what you have decided. Unpleasant surprises happen because people don’t talk about them.
ground level
The reason most people don’t have a will is not because of cost. This is not a complication. It’s just an inconvenience – a natural human reluctance to plan for one’s death.
But not planning is a plan in itself. It’s a plan that says: “I will let the state, the courts, and circumstances decide everything for me.” This is a worse plan than almost anything you could have written yourself.
Will does not cost much. A basic estate plan can be done in an afternoon. And it’s the most solvable item on your financial to-do list by a wide margin.
The 56% of Americans walking around without it are not waiting for the right moment. They’re hoping nothing happens before they arrive. Statistically, it doesn’t work that way.
You will never regret getting it. Your family will never stop being grateful to you. For more information about what No For the uninitiated, check out my article on estate planning mistakes that could leave your heirs with nothing.