We strongly recommend that all adults who have assets make a Will and a Power of Attorney. With a Will you will have control over who gets your assets, at what age the assets will be transferred to minors, who will be the guardian of minor children, you may set up a trust fund or a life interest to provide for people you are concerned about, etc. Without a Will, while there is a common misconception that everything goes to the Government, your assets may end up in the hands of people you would prefer not to benefit, minor children may receive their inheritance as young as 18 years, the guardians of your children may not be the people you would chose, you may not be providing continued financial assistance for people you care about, etc.
While a Power of Attorney can be useful in many circumstances one of the most common uses is to allow you to name someone to manage your financial affairs in the event you are mentally or physically incapacitated through illness, disease or accident.