While we're young, focus should be on making the right decisions for our future. We should make these decisions with our children and loved one's in mind - making it a priority to ensure that opportunities are available for our loved one's future. We want to know that after we pass away, our decisions will reflect positively in our loved one's lives. However, many of us are unaware of the impact that not having a legal will can have on our families

Publsihed in 2007, Harris Interactive for Martindale-Hubbell conducted a research study finding that for the last three years, 55% of all adult Americans do not have a will. Only one in three African American adults (32 percent) and one in four Hispanic American adults (26 percent) have wills, compared to more than half (52 percent) of white American adults.

This is not a subject that we enjoy talking about, however deciding what will happen to our equity after we die is very important - giving us re-assurance that our loved ones will be taken care of when we die. Not having peace-of mind that our assets will be distributed accordingly can be a burden on our well-being.

Most of us assume that only people with a great deal of wealth should be concerned with making a will. However, that's not the case. If you die without making a legal will then certain laws come into play as to how your assets will be divided, and might not be what you expect. For example, if you weren't married or in a civil partnership, even if you live with your partner, they will not necessarily inherit your assets unless you specifically list them in a will. Even if you are married, without children, your spouse will not inherit your entire estate as a portion will be divided up amongst other immediate relatives. Getting divorced, re-marrying, having children - all can be considered complications when dividing your estate without a will.

Without a will you will have no executor to carry out the administration of your estate, the responsibility will then fall upon your beneficiaries, who you may consider to be unworthy of handling your affairs. Planning your estate's affairs may also help to minimize inheritance tax laws.

In order to make a will you must be of sound mind and body, and should be written without pressure from an outside party. You must sign it yourself in the presence of two other witnesses who must also sign. Married partners of beneficiaries and beneficiaries of the will are not valid witnesses. If they do witness this doesn't mean the will is no good - only their inheritance.

Upon completion of your will, you will want to keep it in a safe place such as a safety deposit box at the bank, lawyers office, or Family Division of the High Court.

Many people ask if it is necessary to employ a lawyer to create a will. The answer is no, however it is most certainly recommended. Hiring a lawyer can be very useful if your circumstances are "complex". Quite often, many people tend to make silly mistakes when writing their will and the presence of a lawyer can be very beneficial - giving you peace of mind. A lawyer will know all the ins and outs of what makes a will legally valid, helping you to remember certain parts of your estate you may have not thought held any validity. As well, he may also help you to make the best judgment possible when it comes to your beneficiary.

Thinking about things such as who to appoint executor and who will take care of your children should you die before they reach the age of 18 are all very important points for consideration. For someone who's circumstances are quite complicated, hiring a lawyer is without a doubt necessary.

If you are completely against hiring a lawyer, you can purchase in-home will kits or seek online providers that will aid you with basic guidance.

A will can be changed at any time - remember to make altercations as necessary. You will have to be careful as to how you go about amending your will to assure it remains valid. If you must make altercations, the only ways are to either make a whole new will or to write what is known as a codicil - it doesn't replace your will, yet makes altercations to certain sections.

A codicil can only be made by the creator of the will, and must be witnesses and signed in the same manner as the original will. A codicil is only useful for making slight changes, such as amounts of monies left to a beneficiary or changing the executor. If you start creating numerous codicils than it's probably best to start fresh with a whole new will. Upon creating the new will you should mention in a clause that the new will terminates all previous codicils including the old will itself. At this point it is imperative to destroy the old will.

Regardless of whether or not the will was created to perfection it can still be challenged by a person who feels they didn't receive what they deserved, or if they feel the will was not created to legal perfection.

In short, taking the time to make a legal will is something that everyone should do, regardless if you have someone you care for or not. Don't let the government decide your estates future, even it that means leaving it to the church and trying to buy your way through the pearly gates.