Darrell and Karla Boykin are in their mid-30s and have two children, ages 8 and 5. They have combined annual income of $95,000 and own a house in joint tenancy with a market value of $310,000, on which they have a mortgage of $250,000. Darrell has $100,000 in group term life insurance and an individual universal life policy of $150,000. However, the Boykins haven't prepared their wills. Darrell plans to draw one up soon, but the couple thinks that Karla doesn't need one because the house is jointly owned. As their financial planner, explain why it's important for both Darrell and Karla to draft will as soon as possible.