By planning ahead, you can provide your loved ones with clarity and comfort during a challenging time. One of the most important tools for this is a will—a legal document that outlines your wishes for your property, finances and care of dependents after you pass away.

But what happens if you don’t have a will? Let’s break what would happen.

 

Your State’s Laws Decide for You

When someone dies in Colorado without a will, they are considered to have died “intestate.” This means Colorado’s intestate succession law will determine how your assets are distributed.

For example, according to the Braverman Law Group in Colorado, if someone passes away and has both a spouse and descendants (children), the spouse inherits all eligible assets. If someone passes away without a spouse, but has children, the children inherit all eligible assets. If someone passes away without children or a spouse, but is survived by parents, the parents receive all eligible assets. If someone passes away, and is survived only by their siblings, the siblings receive all eligible assets.

While the law is designed to be fair, it may not reflect your personal wishes.

 

Your Children’s Guardian Could Be Chosen by the Court

In Colorado, if you have minor children and no will, the court will decide who becomes their legal guardian. While the court will try to choose someone in the children’s best interest, it might not be the person you would have chosen. A will gives you the power to name the guardian you trust most.

 

The Process Can Take Longer (and Cost More)

Without a will, settling your estate often requires a longer probate process. This is the legal process of managing your assets. If there is no will, the court must first appoint an administrator (typically a close relative), who will manage the distribution of your property according to state law. This can cause delays in getting funds or property to your loved ones and may increase legal costs.

 

Family Disputes Are More Likely

When your wishes aren’t clearly documented, disagreements among family members can arise. Even in close families, emotions and stress can lead to disputes over property, sentimental items or who should handle the estate. A clear will can help avoid misunderstandings and preserve family relationships.

 

Your Charitable Wishes May Not Be Honored

If you intended to leave part of your estate to a charity or organization, those wishes won’t be honored without a will. State laws for those without a will focus on family members—not charities, friends or community causes.

 

Why You Should Act Now

Creating a will ensures your property, your dependents and your personal wishes are protected. It doesn’t have to be complicated or expensive. As a Partner Colorado member, you can take advantage of our Estate Planning Services.^* You can create your own will or trust to ensure your family is taken care of and your wishes are honored.

Without a will, the state—not you—decides what happens to your assets, your children and your legacy. Take the time now to put your wishes in writing. It’s one of the most important gifts you can give your family.


*The use of any product and/or service is not intended to be a substitution for the advice of an attorney. Partner Colorado is not a law firm, and our representatives are not attorneys. No legal advice will be provided.