What Is a Will?

A will is a legal document that declares the distribution of your assets after death and can appoint guardians for children. A will is important to have. It allows you to communicate your wishes clearly and precisely. It is advisable to work closely with an attorney to create and update your will.
When there is no will, the state in which you reside decides how to distribute your assets to your beneficiaries according to its laws. This is known as dying intestate, and the resulting settlement process may not produce the results that you would prefer. You can prevent this from happening by having documents drafted that reflect your wishes.