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Do you need a will?

Ask yourself this: Do you care what happens to your children, if you have any, and to your stuff after your death?

If you die without a will, your state's laws will determine who gets what, and who becomes your children’s legal guardian.

Young folks without a lot of money or kids can get a basic will for pretty cheap. And if you have life insurance or a retirement account like a 401(k), be sure that the beneficiaries listed in the insurance policy or your account paperwork are the people you want. Because whoever is listed there is the person who gets the money, no matter what’s in your will.