When it comes to planning for the future, many people put off creating an estate plan. Whether it feels overwhelming, unnecessary, or simply “something to deal with later,” estate planning is often overlooked. But the consequences of not having one can be far more complicated—and costly—than most people realize.
1. The State Decides for You
If you pass away without a will or trust, you are said to have died intestate. That means the state’s laws determine who inherits your assets, regardless of your personal relationships or intentions. This could lead to outcomes you wouldn’t have wanted, such as estranged family members receiving your estate, or loved ones being left out entirely.
2. No Control Over Medical or Financial Decisions
Without legal documents such as a power of attorney or advanced healthcare directive, no one is automatically authorized to make financial or medical decisions on your behalf if you become incapacitated. Family members may need to petition the court to be appointed as your guardian or conservator—an expensive and emotionally draining process.
3. Probate is Almost Always Required
Without an estate plan, your estate will likely go through probate—a public legal process that validates your will (if you have one) and oversees the distribution of your assets. Probate can be lengthy, costly, and public, potentially causing delays and stress for your loved ones during an already difficult time.
4. Family Conflicts Are More Likely
When there’s no clear plan in place, misunderstandings and disagreements among family members can easily arise. Who gets what? Who makes decisions? Without legal clarity, these questions can quickly lead to conflict, litigation, and fractured relationships.
5. Your Minor Children Could Be Placed with Someone You Didn’t Choose
If you have minor children and no legal guardian is named, the court will decide who takes care of them. This decision may not align with your values or wishes—and it could lead to further stress or conflict among family members.
Protecting Your Loved Ones Starts Now
An estate plan isn’t just about distributing assets—it’s about protecting your loved ones, ensuring your wishes are honored, and avoiding unnecessary legal complications.
Whether your estate is large or small, everyone can benefit from having a plan in place. By working with an experienced estate planning attorney, you can take control of your legacy, protect your family, and gain peace of mind knowing your future is in good hands.
Need help getting started with your estate plan?
The Davis Schilken team is here to help guide you through every step of the process with clarity and care. Give our office a call to schedule a no obligation meeting (303)670-9855. We make estate planning simple.