As long as you have assets, you should have a will. Also, many people do not update or revise their wills in a timely manner. If you think you may acquire additional property or assets during your lifetime, you should have a will - a simple one will suffice. Your will can specifically name who will receive heirlooms and other items of sentimental value (for example, watches, jewelry, handbags, etc.). Regardless of the value of your assets, having a will can reduce the chance that your loved ones will have to manage complicated and frustrating legal issues if you pass unexpectedly.