If you die without a valid will, there is no record of how you intend to distribute your estate or to whom you wish to distribute it to. In such cases, you are said to have died intestate.
When this happens, your estate will be distributed according to a pre-determined formula based on the law in your State. The risk here is that this formula may not be in line with your wishes and it also may not be in the best interest of the surviving members of your family.
There may also be other potential challenges, whether legal or otherwise for the surviving members of your family which can cause them unnecessary financial and emotional distress.
You might also be interested to know that if you die without a valid will, in some circumstances, your estate will pass to the State Government.