5 Reasons You Need a Will:

1. Support your loved ones financially If you own property and have investments and retirement accounts, a will can help you organize these assets and divide them among your family and friends. The mere fact of having a will and appointing an estate administrator can ensure that your assets go to where they are needed as quickly as possible. Plus, even if you don't have many assets to pass on, creating a will can save your family the costs of estate administration down the road.

2. Take care of your children when you're gone While wills are most often associated with money, what makes them truly valuable is their ability to help you care for your family. If you have children or are the main caretaker of an elderly or sick relative, you'll want to make sure that they are taken care of by someone you approve of after you are gone. You can use a will to name a guardian for your children or other dependents, someone who shares your values and concerns for your loved ones. Without a will, or even without such a provision in your will, your children could become wards of the state.

3. Make your wishes and preferences known If you have something specific in mind for your memorial service, are particularly attached to a certain charity, or have a certain family heirloom that you'd like to set aside for one of your relatives, make these known in your will. Unless you write down your wishes, your family may not be able to carry them out, either because they have no way of knowing what it is you wanted, or there is disagreement among them. By setting down your preferences, you'll ease the stress on your loved ones who are left to handle your affairs, since they can always look to the provisions of your will for guidance.

4. Plan for your family's particular dynamic, not just your state's laws In this day and age, many individuals have children or assets from different marriages. If you don't create a will before you die, your state's laws may leave everything to your spouse or to your next of kin. If you would like to spread your property differently, you'll need to make a will that specifically addresses your situation. Because these circumstances change throughout your life, it's important to revise your will after any major life events, such as marriages, divorces, childbirth or adoptions, retirement, or even death of a relative.

5. Peace of mind There's no reason not to make a will - it helps your family emotionally and financially, it's one of the most straightforward estate planning documents you can create, and for the next month, it's free if you create your will online with Rocket Lawyer! 

*I always advise the use of an attorney with any legal documents you may not fully understand.