What Happens When You Don’t Have an Estate Plan?

Many people assume that estate planning is only for the wealthy, but that couldn’t be further from the truth. What happens when you don’t have an estate plan? If you have a home, savings, or any possessions, your estate may go through probate—where the government decides how it’s distributed after you pass away. Without a will or trust, the government decides how to distribute your assets after you pass away.

When someone dies without an estate plan, their assets go through probate. This court process follows state laws to distribute property. Probate can be costly, time-consuming, and stressful for loved ones. Worse, the outcome may not align with your wishes.

How a Will or Trust Protects Your Family

A will or trust ensures your assets go to the people you choose. Here’s how each one helps secure your family’s future:

• Will: A will outlines your wishes and names heirs. It also allows you to choose guardians for minor children. However, wills must go through probate, which can delay asset transfers.
• Trust: A trust gives you more control. It allows assets to pass directly to beneficiaries, bypassing probate. This saves time and money while offering privacy and potential tax benefits.

Without these documents, family disputes may arise. The court then decides, often leading to unnecessary conflicts and delays.

The Importance of a Power of Attorney

Estate planning isn’t just for after you pass away—it also protects you during life. If illness or an accident leaves you incapacitated, a power of attorney ensures someone you trust can manage your finances and medical decisions. Without one, loved ones must go through a lengthy legal process to gain authority to act on your behalf.

A will, trust, and power of attorney provide security and peace of mind. They protect your future and reduce the burden on your family.

Secure Your Legacy Plan Today

No one knows what the future holds, but taking action now can prevent uncertainty and hardship for your loved ones. Estate planning gives you peace of mind, ensuring that your wishes are honored and your family is protected from unnecessary legal complications.

Need help deciding? Call us at 760-754-9059 or click here to book an appointment and speak with one of our experienced estate planning professionals.