The death of a loved one is hard enough without having uncertainty or conflict over who will raise their children or receive their property. A will is a legally binding document that clearly states how you want your assets including your real estate, cash and investments handled and advises the court as to who should raise your children. Without the clear instructions in a properly prepared will, things can get very complicated and expensive. As you grow older, your will and entire estate plan should be revised periodically, especially when there are changes in your family such as marriage, divorce, birth of a child or grandchild, sickness or retirement, to make sure your estate plan reflects your current wishes.
Some answers to your questions about Wills and Trusts: