Do you have a will? According a survey from lawyers.com, 58 percent of adult Americans answer “No” to that question.

If you die without having a written will, someone other than you will make decisions about your estate and responsibilities.

I know that many people I have met who do not have a written will have not prepared one because they had not thought about it. Others do not like the fact that they have to think about death, and this deters them from preparing a written will. However, here is a news flash – we will ALL die someday!

Think about this for a moment. If you have dependent children, do not have a written will, and you die prematurely someone else will choose the primary caregiver for them. Someone else will choose how your assets will be managed. This fact alone should make one take steps immediately to have a will prepared.

Cost is another reason commonly given for not having a written will, but it does not have to be costly. I had my will prepared for less than $200. LegalZoom.com and USLegalForms.com both offer wills for less than two hundred dollars. I know of several estate planning attorneys that will prepare a basic will for close to the same amount.

As you prepare your will, be sure to consider the following questions. In the event of your untimely death, who do you want to be the primary caregiver for your minor children? Who will receive the funds? When will the funds be distributed? Who will ensure that your will is followed and executed completely? How do you want your possessions and finances divided?

It is important to understand that a will is not just about one’s children, finances and possessions. It is about ensuring that your wishes are followed including providing direction about how you want your funeral to be conducted.

I have taught thousands of people about personal finances, and it was inevitable that one of the attendees encountered a very premature loss of their life. It was (and still is) an awful situation, but I am so glad that they had taken the necessary steps to ensure that their will was written, known and followed.

While you are ensuring your wishes are followed, be sure to also complete a living will and healthcare power of attorney. These two documents provide another individual the legal right to make legal and health care decisions on your behalf should become incapacitated and unable to do so on your own. I know that completion of these two documents is part of the standard check-in procedure at my local hospital, and it is free to complete them. LegalZoom.com and USLegalForms.com also provide these documents at a very low cost.

You can purchase a copy of Joe’s book “I Was Broke. Now I’m Not.” at JosephSangl.com.