St. Louis University High School

A Guide to Making Your Will

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Direct Your Assets to the People and Causes You Care About Most Perhaps the whole thing seems too time-consuming, difficult or even mysterious. To overcome these obstacles, review this helpful guide that gives clear answers to the questions you may have. What Happens if You Don't Have a Will? If you die without a will, your estate will be divided according to laws in the state where you live. The resulting transfer of assets may be very different from what you had wished. While certain family members will likely receive part of your estate, close friends or charities that you may have wanted to remember will not be included. Also, if you are a parent of minor children, dying without a will can have significant ramifications, such as a court deciding who will care for your children. Making a will is an important way to extend your love, care, generosity and gratitude to family and friends. It is also an excellent way to support our mission. So why have 60 percent of U.S. adults living in households with children not created a will? executor: the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will codicil: a written and properly witnessed legal change to a will residuary estate: the part of an estate left after debts, taxes and specific bequests have been paid

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