Everyone should have a will. Sorry if I sound morbid this morning. Even if you are really young, or in great health, or won’t be dying for years and years yet, I still suggest you make up a will.
If you have children, it is irresponsible not to have one. If you’ve been re-married and have children outside of your present marriage, you are doubly irresponsible if you don’t have a will. If you die before your spouse, and do not leave a will, it is very likely that your spouse will inherit everything, leaving nothing to your children.
Not a problem you say, you trust your spouse will then leave your family jewelry to your children.
Maybe not.
I have heard about scenarios where the spouse was given everything with an unwritten wish that part of the estate would go to children, but then the spouse remarried and died and the whole estate was left to the new spouse with nothing left to the original family or to any children.
Write it down. Put it somewhere safe.
Having a will not only gives you peace of mind now, it also helps those left behind.
We recently had a death in our family. My mother in law was so organized we didn’t have to make important decision in our grief, or go looking for paperwork. We miss her, but are grateful for her advanced planning.
She had written, and told us on numerous occasions, about her wishes. When the time came, we knew what she wanted and didn’t have to think about it. This allowed the surviving family members to concentrate on matters at hand instead of second guessing about her desires.
It doesn’t matter if you have a large estate or only one treasured possession; write down who’d you’d like to get what, so a judge doesn’t decide for you.