Why everyone needs to draw a will

FRESNO, Calif. (KFSN) -- If you were to die tomorrow who would inherit your possessions?

If you pass away without a spouse, without children, and without a will, the state will determine what happens to your money, your home, your car, and your pets. If no relatives can be found, your financial legacy will go to the state.

If you do not want the rewards of your life's work to line the pockets of court-appointed lawyers then, no matter how old you are, make a plan for your estate now.

Experts recommend that you have a lawyer draw up your will. Internet specials for 9.99 are frequently not worth what you pay for them.

Designate beneficiaries for your retirement account, 401K, and life insurance.

Name someone you trust to sell your property, pay your taxes, and distribute your money. If you want to leave behind a charitable legacy, most charities will help you set up a charitable trust.

And do not forget about your pets, you can either will some money directly to the new owner, or set up a small trust that will pay for their food and care.

You should look at your will once a year to be sure it is up to date.