Dying without a Will is known as dying "intestate," which can have significant emotional, financial and legal consequences for your loved ones.

Let's start with the emotional impact; it begins with your children.

If you have minor children and die without a Will, depending upon the status of their other parent, the court could appoint a guardian for them. This might not be someone you would have chosen, and the process can be stressful for your children and the rest of your family.

Then, suppose you have a life partner and are in a de-facto relationship. In that case, your partner may not automatically inherit your estate, depending on the state or territory you live in. They need to prove the nature of the relationship in court.

The actual distribution of your assets is then handled according to state or territory laws, which may not reflect your wishes. Each state or territory in Australia has its own set of intestacy laws that determine how assets are distributed if you die without a will, generally:

• Spouse and Children: If you have a spouse and children, they will typically share your estate, but the exact distribution varies by state/territory.

• No Spouse or Children: If there is no spouse or children, the estate may go to other relatives, such as parents, siblings, or distant relatives. 

Most likely, with the distribution when left to the state, there will be disputes among family members, mainly by those left less than what they believe they are entitled to, who would have thought inheriting money would create such issues. Any dispute would lead to lengthy legal battles, costs, a reduced estate and further strain on family relationships.

Let's move on to your Superannuation and any Life Insurance policies you might hold; they may not form part of the estate unless a Will explicitly directs them. Without a Will, these funds might not go to your preferred beneficiaries, creating further issues.

Are you a Business Owner? If you own a business, dying without a Will can complicate the transfer of ownership and management. There may be uncertainty about who will take control, which can affect the business's continuity. In a worst-case scenario, your company could become a worthless asset or, even worse, a liability to your family; all that hard work and sacrifice go to waste.

In closing, dying intestate in Australia can lead to many complications and burdens with outcomes that most likely will not align with your wishes or intentions. Preparing a valid Will, which does not take as much effort as you might think, ensures that your estate is distributed as you intend, protects your loved ones, and minimises emotional, financial and legal complications.