I think if you have anything you want divided to a specific person when you pass away, you should have a will. You can just make a holographic will, which is written in your own hand and signed and dated by you, but you need to check to make sure it’s valid where you live (it’s not valid in all states). It doesn’t need to be witnessed or notarized.
Holographic Wills:
-All in your own handwriting
-Date at top, signature at bottom
-Name a guardian, alternates, disposition of assets
-No notary or witnesses required
-Caution: Consult attorney about language
-Caution: Use only if you don’t have significant assets or a complicated family situation.
Here’s some examples of the type of language you should use:
In your own hand, write the date at the top of the page:
“I, (your full name), being over 18 years of age, of sound mind and not acting under duress, declare this my last will and testament, revoking all prior wills & codicils.
“I am married. My husband’s (wife’s) name is (full name). We have the following children, who are issue of our marriage: (list names & birth dates.) (Or state that you are single, no children.)
“I intend to dispose of all my property at the time of my death through this will.
“I give (list specific items & who you want them to go to).
“I give the residue of my estate to (if married, my husband/wife), (state full name). If (name) does not survive me, I give the residue to my minor children, to be distributed equally (per stirpes/capita).
“If any part of this will is invalid, such invalidity shall not affect any other provision.”
“My estate shall be administered by one Personal Representative. I nominate the following to serve as Personal Representative to administer my estate, to serve without bond in the order in which listed: (List about 3 people, in order of choice.)”
“My Personal Representative is authorized to do whatever is necessary to administer my estate.”
“I have intentionally omitted any existing heirs who are not specifically mentioned here. Any who shall contest this will shall receive only one dollar.
“If my spouse does not survive me, I nominate the following, in the order listed, to act as guardians of & conservators for my minor children: (List about two or three, in order of choice, the same as spouse’s list.)”
“In witness whereof, I voluntarily sign my name this day.”
Sign the document at the bottom and keep it in a place where it can be found and preserved. Make sure others know where it is. If you die and it’s hidden somewhere and never found, it won’t do you any good. Your spouse should do a similar document (if applicable).