"What Happens If You Die Without a Will? Understanding the Consequences of Dying Intestate"

Jan 154 min read

A couple reviewing living will documents with an attorney present

Introduction

The Benefits of Having a Will vs. Being Intestate

Planning for the future is something many of people put off. However, it is an essential task … an in particular when it comes to your estate. One of the most important steps in making certain your wishes are respected after your death is creating a will. But what happens if you don’t make one? In that case, you would die intestate (which means dying without a legally recognized will) and in such a situation, in Colorado your estate would be distributed according to state law which has a process by which assets are distributed.

Dying intestate can lead to complications, confusion, and potential conflict between surviving family members and potentially friends. In contrast, having a will provides clarity, control, and peace of mind for you and your loved ones.

Having a Will is Beneficial Compared to Dying Intestate

Control Over How Assets Are Distributed

One of the most significant advantages of having a will is the ability to decide exactly how your property will be divided. A will allows you to outline who will receive your assets, from family members to friends, and even charitable organizations. Without a will, again, your estate will be distributed according to Colorado law, which might not align with your wishes. For example, if you want to leave specific items to certain people or provide for someone outside your immediate family, Colorado’s intestate laws will likely not align with your goals.

Appoint Guardians for Minor Children

In the event an individual has young children, a will allows a guardian(s) to be appointed in order to care for them in the event of death. For parents in this situation, this is one of the most important reasons to create a will, as it ensures their children will be cared for by individuals trusted by the parent. On the other hand, if an individual dies intestate, a court would need to decide who becomes the guardian, which could lead to a situation where children are placed in the care of someone the person that passed may not have selected.

Avoid Family/Friend Disputes

Without a will, the process of distributing an estate is left up to Colorado law, which could cause confusion and potential conflicts among family members. Siblings, spouses, or other relatives might disagree about who should receive what, leading to emotional and potentially expensive (and time consuming) legal battles. Having a will in place eliminates much of the guesswork and can prevent disputes by clearly outlining an individual’s wishes should they pass.

Simplify Probate

When an individual dies with a will in place, their estate will go through a legal process called probate, where their will is validated and their assets are ultimately distributed according to their wishes. While the probate process can require time (and some expense), a well drafted will can help streamline the process, as an individual’s instructions are clear and can be followed by the individual selected to administer the estate. In contrast, intestate estates frequently face delays as a court determines how to handle an individual’s assets according to Colorado law, which could involve more complicated procedures and potential legal disputes.

Make Specific Gifts of Property

A will also provides an opportunity to allocate specific gifts or items to loved ones. Whether it’s a family heirloom, a piece of art, or financial support for a charity, through a will an individual can specify exactly who should receive certain possessions. Without a will, such personal wishes may go unfulfilled, as Colorado law does not account for the unique requests many individuals have for distributing their belongings.

Protect Your Family’s Financial Future

Dying intestate means your assets will be divided according to a set formula established by Colorado law. This may not consider your family’s unique financial needs (including the possibility of using a trust as part of the estate process). A well-drafted will can help an individua ensure that their heirs are taken care of financially, providing for their specific needs, and addressing debts or taxes in a manner that best suits the estate. By planning ahead, you can minimize the financial burden on your loved ones and avoid surprises during the distribution process.

Conclusion: Miller & Law, P.C. Is Here To Assist

While it may seem like an additional chore, creating a will is an important step in securing an individual’s legacy and ensuring that loved ones are taken care of according to your wishes. Without a will, you risk leaving your estate in the hands of the administration of Colorado law, which may not reflect your desires and could lead to confusion and conflict among family and friends. If you haven’t already, consider drafting a will today to protect both yourself and your loved ones. It is never too early to plan ahead. Miller & Law, P.C. frequently assists individuals with estate planning needs. Please feel free to give us a call if you would like to discuss your situation.

*This article is intended for informational purposes only and should not be construed as legal advice. Individuals involved should consult with legal professionals for specific guidance tailored to their circumstances.

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