What happens if you don't have a last will and testament?

Dying Without Will It is said that those who die without a will die intestate. Once someone with no last will and will dies, their assets will automatically be controlled by a probate court. Without a will, the probate court will distribute all assets in accordance with the laws of the state where the property is located. Dying without a will, or dying intestate, means that your assets won't necessarily end up where you want them to end.

If you have joint bank accounts or accounts with a designated payee, they will almost always be transferred automatically. If the deceased had any assets or debts, the consequences of not proving a will can be quite serious, both for the estate and for you personally. The legalization of a will is the only legal way to transfer the assets of a person who has died. Without legalization, titled assets, such as houses and cars, remain in the name of the deceased indefinitely.

You won't be able to sell them or keep the records up to date because you won't have access to the person's signature and consent. As a result, the estate is likely to have ongoing expenses, including property taxes, insurance premiums, and car registrations. Those bills will go unpaid unless you want to finance them yourself. If you die without one, you give up control to the state in which you lived.

Your laws will determine who your heirs will be and the state will choose the executor of your estate.