Fact vs Fiction: “I Don’t Need a Will Because My Family Will Know What to Do”

Welcome back to our weekly series where we uncover the truth behind common estate planning myths. This week, we’re tackling a misconception that can lead to significant challenges for your loved ones.

The Myth:

“I don’t need a will because my family will know what to do.”

The Reality:

Without a legally binding will, the state—not your family—decides how your assets are distributed. Unfortunately, state intestacy laws, which dictate the distribution of assets when no will exists, may not align with your personal wishes.

How Intestacy Laws Work

State intestacy laws vary but generally prioritize close relatives such as:

• Spouses

• Children

• Parents

While this formula may work for some, it can be problematic if you want to:

• Leave assets to friends, charities, or non-relatives.

• Appoint a specific person to manage your estate.

• Name guardians for your minor children.

Without a will, your family members may face unnecessary stress, confusion, and even legal disputes as they navigate the probate process.

Why a Will Matters

A will ensures your wishes are clearly stated and legally enforceable. With a will, you decide:

• Who receives your assets: Whether it’s family, friends, or a favorite charity, you’re in control.

• Who will manage your estate: You can appoint a trusted executor to handle your affairs.

• Who will care for your minor children: Name a guardian to ensure their well-being.

Having a will not only gives you peace of mind but also spares your loved ones from uncertainty and potential conflict during an already difficult time.

Don’t Leave It to Chance

Creating a will is about protecting your family, your assets, and your legacy. It’s a straightforward way to ensure that your wishes are honored and that your loved ones are taken care of according to your plan—not the state’s.

Join us next week as we continue to debunk more estate planning myths in our Fact vs. Fiction series.