A will is a legal document that directs how your assets — personal property, financial accounts, real estate, and other belongings — should be distributed after your death. It also allows you to appoint an executor, the person responsible for administering your estate, satisfying outstanding obligations, and ensuring your instructions are carried out.
For parents of minor children, a will serves an additional and particularly important function: it lets you designate a legal guardian to care for your children if both parents die unexpectedly. Without that designation, a court will make the decision for you, without the benefit of knowing your wishes.