Creating a will is one of those things we all know we should do, but over half of Americans haven't gotten around to it. A will is a legal document that allows you to decide how your assets will be divvied up after you pass away. Most people can use an online template or service to create a simple will for free. If you have young children, having a will is the easiest way to assign guardianship of minors. Discuss the options with your children, if you can. Make sure the guardian is comfortable with the responsibility, and that you have any necessary life insurance as well. Another important estate planning document is a living will or medical directive. This allows you to designate a loved one to carry out your wishes if you're no longer able to do so yourself. Having an up-to-date will and living will is an important way to take care.
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