Everyone should have a will. It is important to have a will for a number of reasons. Firstly, making a will means you have exercised your power to choose. You can dispose of your assets in the way you choose and you can nominate who you want to administer your estate when you have passed away. Secondly, you can appoint a guardian or guardians for your young children in your will to ensure your children are looked after by persons of your choosing if both parents have passed away. Finally, having a will reduces the likely financial obligations imposed on your family by administering your estate after you have passed away in the absence of a will.