It depends. Consequences of dying without a formal plan in place may include costly and frustrating delays in Court as well as (i) lack of control regarding the disposition of your estate (state law will dictate who gets your property); (ii) lack of control as to who deals with your belongings after your death (iii) potential negative tax implications (*only for clients with substantial estates); and (iv) uncertainty by your family and loved ones as to whether they will be provided for in your estate.