A Will is a death instrument, it will only work after you are dead and only after it is probated (it will not work if it can not be found!!). But to answer your question, YES it's a big issue. Statistically you have a greater change of becoming incapacitated before you die then to die early (Altzheimer, Dementia, injuries or accidents are just a few situations you need to think about). If you do not have a durable power of attorney, and, if you do not have a living will or medical directives, your loved ones will need to go to court to go through "Living Probate". This not only costs precious time (it can take a long time!), it also can become very expensive very fast. Having a Will (one that fits your needs, not one that is make from a form to cover this "cookie cutter individual") with all ancillary documents will not only protect you during your life when you need it, it will also save you time and money (it's a fraction of the cost to do it while you can, than have others fix your mistakes when you can't when you need it). Your family will thank you for it!