. . . that your heirs are going to be happy that you did not have one.
You: But I’m in my late twenties and no one is going to confuse me with a Rockefeller. What’s the rush?
Even if you aren’t likely to die with a large sum of money, a will can be critical.
If you have kids, for example, only a will can determine who will be their guardians in the event you pass on. A will, especially when you have either a family or significant assets (let alone both), is essential.
You: What if I die without a will?
If you die without a will (technically called intestate), then the state government determines everything from who takes care of your children to who gets your money (and things). The odds of the government’s decisions gelling precisely with your wishes aren’t too great.
You: Well I don’t agree with most of the decisions the government is making while I’m alive, so I guess that makes sense.
Fair enough. Don’t miss your chance to leave your family in good shape. Get a will.
We’ll talk about trusts and other estate planning documents, like powers of attorneys and health care documents, in the near future. For now, especially if you have kids and/or significant assets, get a will.