Creating a will is one of the most important things you can do to protect your family and your assets. Despite this, more than 60% of American adults do not have a will. Without one, state laws — not your wishes — will determine who inherits your property after you pass away.
What Is a Will?
A will (also called a “last will and testament”) is a legal document that states your wishes regarding the distribution of your property after your death. It allows you to name beneficiaries for your assets and appoint an executor to manage your estate.
Why You Need a Will
- Control over asset distribution: You decide who gets what
- Protection for minor children: You name a guardian for your children
- Avoid intestacy laws: Without a will, state laws determine inheritance
- Reduce family conflict: Clear instructions minimize disputes
- Appoint an executor: Someone you trust handles your estate
What Happens If You Die Without a Will (Intestacy)
If you die without a valid will, your state’s intestacy laws determine how your assets are distributed. Typically, this means your spouse and children inherit first, followed by parents, siblings, and other relatives. Unmarried partners, close friends, and charities you care about may receive nothing.
Do You Need an Attorney for a Will?
While online will-making services exist, consulting with an estate planning attorney is strongly recommended if:
- You have significant assets or a complex estate
- You own a business
- You have children from a previous marriage
- You want to minimize estate taxes
- You have special needs family members
Estate planning laws vary by state. Consult an attorney for personalized guidance.