My daughter is my sole heir and is the beneficiary of my life insurance. She is a co-owner of my checking account and investment account. I have no need for a formal will and she has full and complete access to all my personal belongings.
So you have no assets at all that are just in your name...no home, no car, no investment accounts? That's pretty clean. I co-administered my mother's estate: investments, retirement account, home she lived in, house she rented out. There were 5 siblings. It took a couple of years.
No, we just have a will that divides everything between the 5 kids after we both die. I have also instructed that my jewelry will go to my only granddaughter.