Do you have a will?

Do you have a will? Lots of people don't. In fact, only one in three adults in this country has a will.

"Die without a will and you end up leaving the really key decisions to a court or total strangers," says Jane Bennett Clark, a senior editor at kiplinger.com.

And those decisions can deal with more than money.

"If you have a will, you can direct within state property laws how you want your property to go. You can also name guardians for your children," Clark says.

"If you don't name a guardian in a legally executed will, the decision as to who is going to raise your children will not be left to you it will be left the court."

Another critical document is called a Durable Power of Attorney. It gives the person you choose the ability to manage your financial and legal affairs if you are unable to handle it for whatever reason.

"If you're in a coma or if you can't make decisions, then you have an agent who will do that for you."

For more information

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