Believe it or not, you have an estate. In fact, nearly everyone does. Your estate comprises everything you own. That may be a car, your home, other real estate, checking and savings accounts and other investments, or may simply be your, furniture and your clothes and personal possessions. Those are all considered assets. No matter how large or how modest, everyone has an estate made up of assets. The question then becomes, are your assets important enough to you to care who gets them after you are gone? If so, you should have a will, even if it is like the old cowboy song, "Fred, you take my saddle, Jim, you take my bed, Johnny, take my pistol after I am dead." And if you have assets that will require formalities to pass, most people nowadays find that a simple will is not enough.