Though most Americans are aware that they need a will, the majority -- about 70% of us -- don't have one. People procrastinate for many reasons, but it's important to know that writing a will doesn't have to be complicated or expensive. And once it's done, you can rest a little easier, knowing that your wishes will be followed after your death.

A will is a legal instrument that specifies who are to be the beneficiaries of your estate, and when they are to receive their inheritance. The act of dying without a will is called "dying intestate" and the state will make all decisions for you under a process called Probate; a very expensive process and can take up to two (2) years to complete.  People who are not named as beneficiaries may challenge the wishes of the decedent. By properly preparing a will, you can reduce this risk.

Why Should I Have A Will?

Without a will, your estate possibly will be subject to a lengthy and very expensive probate through the court system which could delay distribution of your assets and decrease the value of your estate, in addition to any taxes that would have to be paid. A well-drafted will is a clear statement of your intent, increasing the chances that your assets will be distributed as you wish. It will also shorten the probate duration and cost, thereby delivering comparatively more of your estate to your beneficiaries sooner.

Will vs. Trust :: Benefit Comparison