There are many who think they don’t need to write a will. If you think that you're too young, not rich enough or have no kids, thus, you have no reason to write it; you are wrong. Accidents can happen at any time, and in the case that you do pass without a will, all your belongings and assets will be distributed according to law [1], which can cause your things to go to people you might not agree to.

Here are reasons as to why you should write your will as soon as you have the time:

Think of the kids

If you do have children but no written will, they may end up going to someone that you don't even like. Minor children are a great reason to have a will written up. You should be the one to have a say in their lives, who will watch over them and how much they deserve of your assets. Your children's lives are far too important to leave it to chance or for the government to decide. You should be the one making decisions for what happens to your own kids.

Your sentimental belongings

All the things you love and value may just go to a cousin you've never even spoken to. Without addressing where your belongings go, you are leaving it under the care of your state court, meaning it could as well go to your cousin you've never met before. Your personal property will also include your pets, so think about where they will go as well. You want to make sure to list out all the sentimental or expensive items you have and who you want each and every one of them to go to.

Consider your finances

When you die without a will, where will all your money go? You will not be able to dictate this if you didn't write a will. Your debt must be paid, and all your money will have to be distributed by an executor chosen for you by the state. With a will in place, you will get to personally pick your executor and where your money goes as well as how much of it. Think about your hard earned cash. You will definitely want it to go to someone that deserves it, right? If you donate to any charities, they will be missing your donations from your passing on.

Your estate and other assets

If you own any land or property, you will definitely want to worry about who it would go to. Without a will, you are not going to be able to dictate what happens to your estate. However, a will enables you to list names and items, properties, lands, and who you want all your belongings to go to.

It is crucial that land and estate be divided properly to avoid family disputes. These are just a few reasons as to why writing a will can be extremely important.  

References:

1. Filing for Child Custody by Unmarried Parents, www.courts.alaska.gov/shc/probate/probate-intestacy.htm.