Yes, you probably need a will. It’s an essential component of a solid financial plan.
Estate planning is an essential part of a comprehensive financial plan. Ideally, everybody should have a valid Will so that their assets can be distributed according to their wishes. This is particularly true for people who have young children.
For people without children and with a relatively simple estate, there are on-line programs that can help with creating a valid Will. However, for those with minor children or a complex financial situation, it would be best to have estate planning documents developed by a lawyer who is experienced with estate planning documents.
The following a links to Money Guy videos that discuss issues of estate planning documents.
Video: When Should You Create a Will, Trust, and/or Estate Plan?
Video: Will vs. Trust: Which One Should You Create?
Video: Avoid These 3 Big Estate PLanning Mistakes!