A will is the most fundamental estate planning document — it determines who gets your assets, who raises your kids, and who handles your affairs after you die. Without one, the state decides all of that for you.
Who Needs a Will
Short answer: every adult over 18. But it’s especially critical if you:
| Situation | Why a Will Is Critical |
|---|---|
| Have children under 18 | Names a legal guardian — without this, a court decides |
| Own any property | Directs who inherits your home, car, or valuables |
| Have a partner (unmarried) | Without a will, unmarried partners inherit nothing |
| Want specific bequests | Leave items or money to specific people or charities |
| Want to disinherit someone | Must be explicit in many states |
| Have pets | Names a caretaker and sets aside funds |
What Happens Without a Will (Intestacy)
If you die without a will, state intestacy laws decide who inherits — and the results often surprise people:
| Your Situation | Who Inherits (Typical Intestacy) |
|---|---|
| Married, no kids | Spouse gets everything (most states) |
| Married with kids | Spouse gets 50–100%, kids split remainder |
| Unmarried with kids | Kids inherit everything |
| Unmarried partner | Partner gets nothing |
| Single, no kids | Parents → siblings → extended family |
| No living relatives | State takes everything (escheat) |
What to Include in Your Will
| Section | What It Covers |
|---|---|
| Personal information | Full legal name, address, date |
| Revocation clause | Revokes all prior wills |
| Executor appointment | Who manages your estate after death |
| Guardian designation | Who raises your minor children |
| Asset distribution | Who gets what — specific and residual bequests |
| Alternate beneficiaries | Backup if a beneficiary dies before you |
| Debt instructions | How debts should be paid |
| Funeral wishes | Burial, cremation, or other preferences |
| Signatures | Your signature + witnesses (2 in most states) |
Step-by-Step: Writing Your Will
| Step | Action | Details |
|---|---|---|
| 1 | Take inventory of assets | List all property, accounts, valuables, and debts |
| 2 | Choose an executor | Someone you trust to carry out your wishes |
| 3 | Name a guardian (if applicable) | For minor children — discuss with the person first |
| 4 | Decide who gets what | Be specific about valuable items; use a residual clause for everything else |
| 5 | Choose your method | DIY, online service, or attorney |
| 6 | Draft the will | Follow your state’s requirements |
| 7 | Sign with witnesses | Two witnesses required in most states (three in Vermont) |
| 8 | Notarize (recommended) | Makes it self-proving — speeds up probate |
| 9 | Store safely | Fireproof safe, attorney’s office, or with your executor |
| 10 | Tell your executor | Let them know where the will is stored |
Cost Comparison
| Method | Cost | Best For |
|---|---|---|
| Free template (state bar, AARP) | $0 | Very simple estates |
| Online service (Trust & Will, LegalZoom, Nolo) | $100–$300 | Most individuals and couples |
| Estate planning attorney | $300–$1,000 | Complex situations, blended families |
| Attorney (complex estate) | $1,000–$3,000+ | Business owners, high net worth, trusts needed |
Types of Wills
| Type | Description | Legally Valid? |
|---|---|---|
| Simple will | Standard typed, signed, witnessed document | ✓ (all states) |
| Testamentary trust will | Creates a trust upon your death (for minor children’s inheritance) | ✓ |
| Pour-over will | Transfers remaining assets into an existing living trust | ✓ |
| Joint will | One will for two people (usually spouses) — inflexible | ✓ (not recommended) |
| Holographic will | Handwritten, no witnesses | ✓ (only ~25 states) |
| Oral will | Spoken, not written | ✓ (very few states, very limited) |
Witness Requirements by State
Most states require two witnesses who:
- Are 18 or older
- Are not beneficiaries of the will
- Watch you sign (or hear you acknowledge your signature)
- Sign the will themselves
| State Rule | States |
|---|---|
| 2 witnesses required | Most states |
| Notarization can replace witnesses | Colorado, North Dakota |
| Holographic (handwritten) wills accepted | ~25 states including CA, TX, VA, NC |
| Self-proving affidavit available | ~45 states (speeds up probate) |
Common Mistakes to Avoid
| Mistake | Why It’s a Problem |
|---|---|
| Not making a will at all | State decides everything — often not what you’d want |
| Forgetting to update after life changes | Divorce, new child, or death of a beneficiary can create chaos |
| Not naming alternate beneficiaries | If the primary beneficiary dies first, the gift may lapse |
| Conflicting beneficiary designations | Retirement accounts and insurance override your will |
| Improper witnessing | Can invalidate the entire will |
| Hiding the will | If nobody can find it, it’s as if it doesn’t exist |
| Disinheriting a spouse without agreement | Most states guarantee spouses a minimum share (elective share) |
| Vague language | “I leave my stuff to my kids” — name specific items and percentages |
When to Update Your Will
| Life Event | Action Needed |
|---|---|
| Marriage or divorce | Update beneficiaries and executor |
| Birth or adoption of a child | Add guardian designation |
| Death of a beneficiary or executor | Name replacements |
| Major asset change (buy/sell home) | Update asset distribution |
| Move to a different state | Verify will meets new state’s requirements |
| Every 3–5 years | General review even without changes |
Will vs. Trust
| Feature | Will | Living Trust |
|---|---|---|
| Avoids probate | ✗ | ✓ |
| Privacy | ✗ (public record after probate) | ✓ |
| Cost to create | $0–$1,000 | $1,500–$5,000 |
| Names guardian for children | ✓ | ✗ (need a will for this) |
| Covers incapacity | ✗ | ✓ |
| Takes effect at death | ✓ | During lifetime |
Most people need both a will and powers of attorney at minimum. Add a living trust if you own property or have assets over $100,000.
Bottom Line
A will is the minimum estate plan every adult needs. It doesn’t have to be expensive or complicated — an online service for $100–$300 covers most people. The biggest risk isn’t getting the will wrong; it’s not having one at all. Start with the basics, name a guardian for your kids, and update it when life changes. Your family will thank you.
See our living trust guide or probate guide for next steps.
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy