A Will is a legal document that provides for the disposition of your property after your death. Keep in mind that the term “property” refers to all your possessions, including real estate, bank accounts, investments, vehicles, jewelry, etc. You can designate speicifc items to individuals or you can give your estate generally to your heirs. The sum of your property (real estate and personal) and your investments, bank accounts (money) is considered your estate.
All adults should have a Will that accurately reflects your wishes for the disposition of your property as well as the guardianship and care of your children and/or pets.
If you die without a will, your wishes may not be honored since they may not be known or understood. If you die without a Will, a judge will appoint an administrator and your property will be distributed according to state laws of intestate succession. If you have minor children the Probate Court will decide who will act as Guardian of the minor children, which may be difference that who you would appoint to act as Guardian.
No. Decisions about funerals or cremations must be made before the Will is located and read. You should write out your buriel instructions and give them to a family member who can be trusted to carry out your wishes.
Your Will needs to be changed only when you have a major change in your life, such as a marriage, the birth of a child or if you have a specific item which you wish to leave to an individual or a charity.