What Is a Will, What Does It Cover, and Why Do I Need One?

A Will is a legal document setting out how your estate should be handled after your death.

It typically covers your property and land, bank accounts and investments, business interests, vehicles and personal belongings, gifts to charity, guardianship of children who are still minors, and the appointment of the executor who administers everything.

Without a Will, the law applies a default formula that may ignore the people you actually wanted to provide for, and disputes between relatives become common. With a Will, your wishes are documented, your executor has authority, and your family is spared avoidable delay and expense.

You do not need to be wealthy to need a Will. If you own anything at all, or anyone depends on you, a Will is worth the hour it takes to prepare.