Though most people are aware that they need a will, the majority -- about 70% of us -- don't have one. People procrastinate for many reasons, but it's important to know that writing a will doesn't have to be complicated or expensive. And once it's done, you can rest a little easier, knowing that your wishes will be followed after your death.

• Have a will drawn up by an attorney. Leave one copy with him
  or her or with a trusted friend or family member (e.g., the principal beneficiary, your spouse, your child, etc.)
• One thing you should not do is put your will in a bank vault or
  safe deposit box. Keep your will and other important papers in another safe place. Safe deposit boxes are often sealed for a period of time at the owner's death and also are not accessible on weekends and holidays.
• Make sure your insurance coverage is up to date. Major
  changes in life circumstances such as marriage, the birth or adoption of a child, divorce, or retirement can change your insurance needs.

Some things that may not be accomplished in a will:

A will can't be used to leave:

• Property you held in joint tenancy with someone else. At death, the deceased's share will automatically belong to the surviving joint tenant(s). A will provision leaving the deceased's share to someone other than the surviving joint tenant, would have no effect unless all joint tenants died simultaneously.
• Property that was transferred to a living trust.
• Proceeds of a life insurance policy for which there is a named beneficiary.
• Money in a pension plan, individual retirement account (IRA), 401(k) plan or other retirement plan.
• Money in a payable-on-death bank account.
• Named beneficiaries for certain kinds of property

More Information on Wills