Dying Intestate
Dying intestate doesn't mean you're on the highway. No, it means dying without a will, and this is probably the worst thing you can do when it comes to estate planning. Intestacy laws vary from jurisdiction to jurisdiction, but their goal is to try to guess how you would like your assets distributed upon your death. Now, do you want the government guessing how you would like your assets distributed, or would you like to have them distributed your way? I can guarantee you that you would prefer your estate to be distributed to your family the way you would like it, and not the way the government thinks you would like it. Generally what happens is your money is split up and given to your spouse, offspring, and siblings (generally in that order). However, it's not uncommon for Intestate estates to wind up being given to the government. In the UK for example, if you do not have any heirs and your spouse has predeceased you, then all of your estate goes to the Crown. 
This can leave a big burden on your family, as the only way they can attempt to get some of your estate after you've passed on is to sue the government, which is at best time consuming and expensive. In some states in America, Intestacy laws are a little more forgiving. The heirs, and usually the spouse, all nominate one person to become the administrator of the estate. This is not exactly the same as an executor of the estate, but it serves the same purpose. In some other states in America, the administrator of the estate is simply chosen by the court, and often the person chosen has no personal interest in the estate.
In most provinces in Canada, the state appoints an administrator of the estate, which then decides who should receive your assets, and what portions they should receive. Also, a certain amount of money (usually a flat amount) is considered the "spouse's share." In Ontario, the spouse's share is $200,000. Any amount exceeding this is split equally with your children, or left entirely to your spouse if there are no children. So for example if you die intestate with $300,000 and you had one child, your spouse will get $250,000, and your child would get $50,000.
Dying intestate often means a lot of legal headaches too. Often the intestate laws don't properly accommodate your family's situation. Unfortunately, the main way this usually solved is by those not treated fairly having to engage in long, tedious, and expensive legal action. Dying intestate does not necessarily mean you never had a will, it just means that you do not have a valid will at the time of your death. So what can invalidate your will? First off, a will can be invalidated if it simply wasn't drafted properly. This is why it's important to get a good lawyer, as if the proper procedure isn't followed, your will might not hold up in court. Another common way to invalidate a will is to get married! Getting married immediately cancels all previous wills, so if you've gotten married it's time to draft up another will. Generally speaking, having n invalid will is even better than nothing, as it then shows the government how you'd want your belongings to be handled. This entire article has been all about the headaches you'll face if you don't have a valid last will and testament. Now, wouldn't it be easy to spend a couple hours with your lawyer and get a proper will? Most wills cost $500 or less, as lawyers use them to attract new customers, and in the long run might save your family thousands, or tens of thousands of dollars in legal fees.
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