Many people see estate planning as a far-off task that they won't have to complete until they're well past retirement age. However, most people don't think about the consequences of dying without a will.
If you do not have a will in place, it won't matter if you told your best friend that they get your car or your parents that they can have your house. A judge will divide up your assets according to state law regardless of whether that's what you would have wanted or not.
The situation becomes even trickier if you have underage children when you die. If they don't have another living parent, a judge might decide who gets custody of your kids. You'll have no control over their inheritance and how it's distributed.
Certain family members might …