Everyone needs a will. Anyone who has any assets, children, or pets needs a will. A will is a legal document that directs where your possessions are to go upon your death. A recent Bankrate survey says that over 50% Americans do not currently have a will in place. Other sources place the figure at 70%. It begs the question, why is it that so many Americans are living without a will when death is one of the two certainties in life (the other being taxes)?

The quick answer is that we’re all too busy to sit down and draft a will. Many people seem to think it doesn’t matter where their stuff goes after they die – it’s no longer their problem. Still others simply think that their surviving spouse will take care of everything. These rationalizations don’t take into account the possibility of leaving children behind and having no control of who will serve as their guardian. It also does not take into account the possibility that you and your spouse can die together (say, in a car accident). In that situation, there is no one else left to take care of your kids and stuff.

The harder answer to articulate is perhaps that none of us want to think about our mortality. We don’t want to imagine that we might be here today, but gone tomorrow. However, as hard as it is to face it, it is a fact of life that we will all be gone from this earth one day and we need to be prepared. You need to be prepared so that you can be sure that your children are taken care of, that your assets are left to those of your choosing, and all your affairs are in place.

A will is a part of disaster planning and everyone should be prepared for the inevitable.