Godparents?

Sarah
My husband and I were chosen as godparents for my friends newborn pretty recently and it got me thinking as to who we would choose as our child's godparents.
After much consideration all I could think of is ... Do we even need godparents? I mean what is the point if we both died wouldn't the child go to a family member anyway? 
 Are we legally required to have godparents? Anyone have any insight?