Wills
For most people, a will is the most familiar component of an estate plan. In essence, a will is a document that defines who you wish to receive your property when you die. In the absence of a will, state law will determine who receives what portions of your estate, regardless of your wishes. Add to this the added time and expense it takes to process an estate without a will and the importance of having a current, legal will becomes readily clear.
People with younger children also have an added incentive to create a will, as it allows them to transfer guardianship of their children upon their death.
