You may not worry about dying, but you could probably stand to be better prepared for it. Most Americans don't have a will, yet making one not only is a thoughtful gesture toward the people you care about but is also the only way to ensure that your assets, your children, and your prized belongings will be properly cared for. You also can save your kin the sometimes hefty legal expense of dealing with a will-less estate.

Why You Need One

Dying without a will, known as dying intestate, means that the state where you lived decides what to do with your stuff. Married without children? You may assume that all your assets will go to your spouse. But in some states your spouse will get only half and your parents will get the rest. Do you have children? Without a will, the state picks their guardian — perhaps a faraway uncle who doesn't have the same child-rearing philosophy that you do. Are you single and devoted to a local charity? If you don't write a gift into your will, it won't get a penny.

How to Prepare

First make a list of your major assets — house, car, bank account, stocks and bonds, jewelry, furnishings, artwork. Note: Some assets don't need to be included in a will. For example, you've probably already named a beneficiary for your 401(k) retirement plan and life-insurance policy. And if you own your house jointly with your spouse (look for the phrase "joint tenancy" on the deed), he or she will get it automatically when you die. Next, think about the people you'll name in your will.

BENEFICIARIES. Those to whom you're leaving your possessions. You can bequeath specific items — say, your piano to a friend who's always loved it — or simply have one or more beneficiaries divide your entire estate. Or you can do both, giving specific things to specific people and leaving whatever assets are left to your beneficiaries.

AN EXECUTOR. That's the person who settles your debts and taxes, makes distributions to the beneficiaries you've named, steers your estate through the courts (if necessary), and generally ensures that your will is carried out. Pick a trusted friend, family member, or lawyer. Name a backup, just in case.

A GUARDIAN. The person who will look after your children if they're under 18 when you die. You'll need to name a personal guardian, who will meet their daily needs (food, clothing, shelter), and a property guardian, who will manage any assets they've inherited; it's easiest to combine these functions in the same person.

How to Draw Up a Will

BASIC. If you don't have a lot of assets and want to leave just about everything to your husband, your parents, or your children, consider using a legal-software program. A good program, such as Quicken's, walks you through what your will should include and spits out a completed document at the end, all in about an hour.

You can also use the preprinted forms in a good how-to guide, such as Nolo's Simple Will Book, $35, www.amazon.com though the end product won't be nearly as customized.

Alternatively, if you know exactly what you want your will to say, you can create one on-line at legalzoom.com. After you complete a simple form, professionals look it over for errors and mail the will back to you within 48 hours (cost: $55 to $115 for a basic will).

Be sure that you date and sign your will in the presence of two to three witnesses who are not named as beneficiaries.

If legal forms tend to make your stomach churn or you want the in-person reassurance of an expert who will make sure you're covering all the bases, turn to a lawyer. Lawyers don't charge much for a simple will —$150 to $400 is common.

COMPLICATED. If you have intricate finances or a blended family, plan to make unusual bequests, or have assets worth more than $1 million, use a lawyer who's an expert in estate planning. A lawyer can suggest tax-saving moves and tell you whether it makes sense to augment your will with a so-called living trust — a trust you create in your lifetime to which you can transfer some or all of your assets. Expect to pay $500 or so for a comprehensive will, $1,000 more if it includes trusts.

TEMPORARY. You may have heard about a holographic will — a document you write in your own hand on a plain piece of paper. Generally these are a bad idea. It's easy to make a small mistake that invalidates the will (like crossing something out), and not all states recognize such wills. (To find out if your state does, call your local Bar Association.) However, if you must have a will now — for instance, you're about to leave on a trip — a holographic will might be better than nothing. Be sure to replace it with a formal will as soon as possible.

Where It Goes

Once your will is complete, keep one copy at home and another in either a safe-deposit box or your lawyer's office. Then sit back and relax. You may not have eliminated all your fears about dying, but you've made that scenario a little less worrisome.