Why do I need a Will/Trust?

If you die without a Will (in testate), the state will distribute your property to your heirs in accordance with its intestacy statutes and with no regard to your desires. For example, if you want to give your diamond necklace to your favorite niece or your motorcycle to your favorite nephew but your son or daughter want them, your wishes may not be granted. When deciding between a will and a trust it is important to consider the probate options, type of dependents you have, estate taxes, and whether you plan on managing your estate to determine which option works best for your needs.