A Will refers to a legal document that details your wishes for how your assets will be distributed at the time of your passing. A common misconception is that Wills are only needed by those that are wealthy. This could not be farther from the truth, as a Will is recommended for everyone, especially those with children or other dependents. It should be noted that those that pass without a Will in place will have their assets distributed as defined by their state of residency law. This may or may not match your wishes, making Wills an important part of estate planning.

Since a Will can be a complicated legal document, it is generally recommended by most estate planners that a lawyer be consulted to assist in the preparation of the Will. Although Wills can be completed independently, often using software packages or predefined forms, it should be noted that these Wills may not cover many of the more complicated aspects of probate law. Of course, consulting with a lawyer to prepare your Will is the most costly option, as self-preparation can be done very cheaply in many cases.