Even famous people like Prince did not have a Will. The idea behind a Will is that the role in getting your assets or your estate to the people at the right time and also at times deals with the tax rate.

If you die without a Will, it means that you die intestate and the state governs how the assets in the estate are distributed and to whom. These can be very much different than what somebody would otherwise put in their Will.

What is not included is retirement accounts, like a 401(k) or life insurance because there are beneficiaries on those. Those are outside of the Will. If other assets are held jointly, like a bank account than that can overrule the Will as well.