If you die without an estate plan, your assets will be distributed according to your state’s specific laws. These laws determine who inherits your property and how much they receive based on your familial relationships.
If you are married and have no children, your spouse might inherit all of your property. However, if you have children, your spouse may only inherit a portion of your estate, with the remainder going to your children or other relatives. The specifics of how your estate will be distributed can vary depending on the laws of your state and the specific details of your family situation.
In some situations things can get even more complicated when there is no estate plan. Family members may start challenging each other for your assets in long drawn out court battles. In the end the person who ends up with your assets may be the last person you would have left your assets to.
Therefore, it’s important to create a trust to ensure that your property is distributed according to your wishes, and not left up to state laws.