Often referred to as a “last will and testament,” a will is a legal document that puts what you want to happen to your estate after you pass in writing. A will can also include other intentions you may have, the most common of which would be who you want to take care of your minor children, what you want to be done with your remains, and any other wishes you may feel are necessary.
If you pass away without a will, all the decisions that would have otherwise been covered in the will are made according to a state statute by a judge. It’s unlikely that these decisions will be the same as the ones you would have made. And even if there are no disagreements among family members, this probate process can take a long time and cost a lot of money.