A Will is a legal document that helps put your affairs in order at the time of your death. Every adult should have a Will to outline their intentions regarding their home, finances, investments and other assets and possessions upon death. Your Will should identify who will handle your estate, how your assets will be divided and who will serve as guardian for your minor children.
If you die without a Will, your money and possessions will be distributed according to a formula fixed by law, which means that your spouse may be required to share assets with other family members not of your own choosing. It could also create lengthy delays in the final distribution of assets. Additionally, dying without a Will could result in your minor children being placed in the care of a court-appointed guardian rather than with people you would have chosen.