By TIM MORRISON

No one likes to think about their own mortality. But you are bound to wonder: If something happens to me, what will happen to my family? Not taking time to plan in the event of tragedy can cause even more grief at an already difficult time. Janet Hunt, a member of the Institute of Professional Willwriters in Hong Kong, recalls a woman struck down by a drunk driver, leaving behind a husband and her children from an earlier marriage. Because her husband was not the father of her children, custody would have gone to their legal guardian--her brother. And without a will, her husband would have inherited her estate, leaving nothing for her young daughters. "The husband would have gotten all the property, but would have lost the children," says Hunt, "and the children would have seen all their mother's money go right by them." But since the will specified that the husband was to take custody of the children, the family was able to cope with their loss together--as a family.

Didn't think about the possible problems involved? Neither did this family, until they sat down to work out their will. Without one, your loved ones can be left high and dry.

Preparing a will and planning an estate can do two important things for your family: specify a guardian for your children if they are underage, and ensure that your assets--property, savings, heirlooms--go to the intended recipients, with a minimum of taxes and hassle. If you die without a will, in most cases a court will make the decisions you didn't make yourself, which can have unintended results.

One of the most important provisions you can make in your will is choosing a guardian for your young children, who will provide and be responsible for them until they reach the age of majority, usually 18 or 21. When choosing a guardian, it's a good idea to take into account a candidate's age, income and willingness to care for your child. If you don't assign a guardian, the courts will. And even with the interests of the children in mind, it doesn't always work out well: in the event of the loss of both parents, there may be other relatives competing to care for them. Such a custody dispute can pull a family apart. No matter who wins, says Hunt, "you end up with two sets of grandparents at loggerheads with each other, and the children will lose out because of this."

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