Most recently, Prince joins a list of celebrities who died without a will. Tupac Shakur, Bob Marley, and so many other legendary musicians have passed without securing their estates.

It begs the question:  Why?

It seems like such a basic concept; everyone needs a will.  Otherwise the laws of the state you live in determine who receives your assets and controls your legacy after you die.  Without a will, you have no say in what happens, and the chances of a family fight increase dramatically.

Even though a will is relatively simple to create, studies consistently show that between 60% and two-thirds of adult Americans don’t have a will.  All states recognize a “holographic” will, which is one in your own hand-writing.  They are perfectly valid as long as a couple basic conditions are met.  This is not to say they are perfect by any means, but usually better than nothing.  And most lawyers can create a basic will for a few hundred dollars or even less.

Even when an estate is modest is size, dying intestate — without a will — is never a good idea.  So why don’t more adults have wills — including a surprising number of the extremely-wealthy?

I realize preparing a will brings the idea of your own morality to the forefront, but let’s face it, you cannot avoid the inevitable, and while the thought of our own passing is unpleasant, the problems you leave behind for your loved ones can be catastrophic.