to state your preferences about life support by creating a living will, healthcare directive, or directive to physicians as a separate document. One caution: Certain assets such as life insurance policies, 401(k)s, and IRA accounts have beneficiary forms that trump wills. That means the funds in these accounts are distributed to whomever you named as beneficiaries, no matter what you specify in your will. Be sure to check the beneficiaries on these accounts -- and make any changes -- to align with your will. What  happens if I die without a will? Without a will, there's no guarantee that when you die your money will go to the people you want or that your children will be cared for by the person you believe will do the best job. This may come as a shock, but if you die without a valid will, state laws require that your property be divided according to a fairly inflexible formula. In most states your spouse, if you have one, would receive only about one-third to one-half of your estate. The rest would be earmarked for your children. Sounds fine, but without a will, in some states a state-appointed administrator (who charges fees for the service) would control your children's money until each child turned 18. That means your spouse wouldn't be able to access the money to help raise your children without going through a very complicated legal procedure. And even if the courts decided that your spouse could hold the funds earmarked