Why is it important for Christians to understand they are dead to the law?

In Colossians 2:20-23, Paul asserts that if believers have died with Christ, they should not act as if they are still bound to the law's regulations, which are rudimentary and external. The law was intended to show humans their need for a Savior, but once one is united with Christ in His death and resurrection, they are free from the law's demands. This truth allows believers to live in the newness of life by faith, where their identity and righteousness are found solely in Christ rather than in adherence to the law or human traditions.