Many people never think about the consequences of not having a will or trust in place. No one likes to contemplate their own demise but, in most cases, it is a serious mistake not to take action on this matter while you can still make informed and conscientious decisions. This is especially true for those with children and grandchildren and, in cases of blended families, is vital. Without a written document stating how you want your property and assets to be distributed following your death, those same assets will be handled through the courts.