There are four main reasons why you may need a will. If you have children, the will is the mechanism by which you identify who will take care of them when you are gone and how they will thrive financially. The next reason is, if you want to give a gift or make a donation, then you need to have that provided for in a will.

Another reason to have a will is if you have a trust. This is not about a trust made in a will, but a separate trust. You should already have a will created at the time of the trust to make sure that when you pass away, if anything was not correctly put into the trust or titled so that it is part of the trust, then everything else will be.

According to Forbes, you may even need a will if you want to disinherit someone. There are people who will take from you when you die, whether or not you have a will.

If you do not have a will, your property will pass by the laws of intestate succession in your state. The people in this group include your spouse, parents, children and siblings. Depending on your marital status and who survives you, the only way to stop someone from inheriting from you is to identify them in your will and to say that they should receive nothing.

There are many reasons you may need a will. No matter what, a will helps you identify the handling of your property and your family when you pass away.