But most of us who don't have a will have plenty of excuses why we haven't written one. Here are seven common excuses -- and why they don't hold up.

Excuse #1. I'm too young to have a will. Even if you plan to live a long, long time, there's always a chance that you won't. And unless you have a will, your heirs will be left with a tangle they will have to unravel. Your will is your way of saying who is to receive everything you own. So if you own anything at all, you need a will, no matter what your age.

Excuse #2. My family knows how to distribute what I own. Your family may have your best interests in mind, but without a will, the state says who gets what. Even though you want your spouse to inherit what you own, your kids will end up with a chunk of everything as well. That creates complications at a time when they are trying to cope with their loss.

Excuse #3. I don't have enough to need a will. Whatever you own, you need a will to say who gets it. Your earthly goods may have little monetary value, but family squabbles often begin over the least financially valuable assets. To prevent bickering, in your will say you are going to leave detailed instructions about personal property, then make a list of who gets what, and update it often.