According to the American Pregnancy Association, about 50% of adults do not have a valid will. You have to know that if you die without a will, your children’s financial future may be at stake. If you die without a will , you cannot be sure of your child’s  guardian after your death.

What is  a will ?

It is a legal document which dictates  the manner in which a person’s will should be distributed after death.  A will also allows  you to name a guardian for your children if you die before they are a legal adult.

It specifies your preferences about  organ donation and funeral arrangements. It is a fluid document because it doesnt come into effect until you die. You can change it anytime. For a will to be legal, it has to comply with several requirements under your state. The will ends with your signature, the signatures of required number of witnesses and typically a notary public’s oath about the validity of the various signatures.

Why do you need a will ?

The most important reason why you need a will is to assign a guardian for your child and name someone to take care of your estate after your death. In most states, if you die without a will, your estate will be handled by a state assigned guardian. This may be tough for the family because the court will decide how your possessions   is distributed.

If you or your spouse both die without a will, the state  appoint a guardian for your children. However a legal will will ensure that your children and estates are taken care of according to your wishes.

When should you create a will ?

You need to start creating a will as soon as possible. Taking care of a newborn can be hectic. You can start the process of a will during pregnancy. It will give you the peace knowing that your newborn will be taken care of if something happens.

It is important to review your will every 5 years to make sure it is up to date  and still reflects your future wishes.