Who Needs a will? The answer may surprise you.
A lot of folks that I speak to don't have wills, even though it is something they have given some thought to, or even worried about. But sometimes I have been asked who really needs a will. Actually, the answer is almost every adult. In fact, it's easier to think about who may not need a will.
For example, if you are a college student, and have really no assets, except for a bicycle and some clothing, a will may not be necessary for you. By law, in most states, your assets will go to your parents (if you don't have a spouse or child), and there are simplified procedures for transferring such assets relatively easily.
But odds are pretty high that if you are reading this, you are not a college student with no assets.
Are you a new parent with children? Who will take care of your children if you and your spouse die suddenly? How will your child's financial needs be met in such a case?
These are questions that are easily taken care of in a will. However, without a will, a judge, who doesn't know a thing about you or your children, will likely make these decisions. That is certainly not something that I want for my kids, and I would be willing to bet almost anything that you don't want it either.
But even a young person just getting their start could benefit from a will. Take, for example, a young person just out of college. They probably have a car (with a loan on it), maybe a computer and some electronic devices, and maybe even a bank account. If they die without a will, who is going to take over the car payment, to make sure that the bank doesn't repossess it while the court figures out who the assets go to? These things could be easily taken care of in a simple will. but without them, a lot can get lost.
So, unless you have no assets and no responsibilities, and plan to be that way until you die, you need a will. You may wish to also see Why Do I need a Will?
If you don't have a will, you can get one custom drafted for you by clicking here for a low price.