Well, that's actually a really good question! Even people who don't own much can benefit from a Will. For instance:
- you can appoint a guardian for your minor children - this is really important if you are the sole guardian but even if you aren't, imagine if you and your child's other guardian both passed away at the same time?
- your Will can set out your wishes - for instance, if you want to have a celebration of life where people dance and drink green beer, you can put that in your Will to let people know. If you want your ashes scattered at the cottage under that special tree, you can tell them so. If you can't stand the smell of lilies and carnations creep you out, you can tell your executor not to have them at your service!
- you might not own much now, but maybe you will later - its wise to plan ahead. You don't ALWAYS need to get an estate grant from the court, but if you don't have a Will and it turns out you do need the estate grant, then not having a Will adds time and additional expense and makes it harder for those you've left behind.
Did you know? American Leona Helmsley left $12 million in her Will to her dog, Trouble, following her death in 2007. The New York Times reported that when the news got out, it led to death threats against the dog who then required security costing $100,000 a year. Apparently, Trouble died in 2010, having lived out her days luxuriously in Florida with care costs of another $100,000 per year.