A TOD account designates a beneficiary for a specific investment account, but it doesn't cover your other assets, such as a checking account, car, or other personal property. If you have any of these assets, you will need to write a will to ensure that they go to the person you want. You also need a will to distribute specific bequests, name guardians for minor children, or name an executor to manage your affairs, such as taxes and debts, after your death.