The Moment
You have been meaning to make a will. Maybe you just got married, had a baby, bought a house, or accumulated some savings. Or maybe you have been avoiding it because it feels morbid, complicated, or expensive.
Here is the reality: dying without a will (called dying "intestate") means a state court decides everything. Who gets your house? The court decides. Who raises your children? The court decides. Who manages the process? A court-appointed administrator — not the person you would choose.
A will takes 30-60 minutes and costs $0-$500. The consequences of not having one are measured in years of family conflict and tens of thousands in legal fees.
What Your Will Should Include
1. Asset distribution. Who gets what — your house, savings, investments, personal property. Be specific. "Everything to my spouse" works for simple situations. For blended families, specific bequests, or charitable wishes, list them explicitly.
2. Guardian for minor children. If both parents die, who raises your children? This is the single most important reason for parents to have a will. Name a primary guardian and a backup. Discuss it with the person first.
3. Executor. The person who carries out your wishes. Choose someone organized, trustworthy, and willing to do the work. It does not have to be the primary beneficiary — sometimes a neutral third party is better.
4. Contingencies. What happens if your primary beneficiary predeceases you? Who is the backup guardian if the first choice cannot serve?
Beyond the Will
A will is the minimum. These additional documents complete your estate plan:
Power of Attorney (POA): Designates someone to make financial decisions for you if you become incapacitated. Without one, your family must petition a court — a months-long, expensive process.
Healthcare Directive / Living Will: Specifies your wishes for medical treatment if you cannot communicate. Also designates a healthcare proxy to make medical decisions on your behalf.
Beneficiary Designations: These override your will. Update beneficiaries on 401(k), IRA, life insurance, and brokerage accounts whenever your situation changes (marriage, divorce, birth of a child). Many people have outdated beneficiaries from a previous marriage — this creates nightmare scenarios.
These four documents take 1-2 hours total and cost $0-$1,000. The alternative — your family navigating courts, guessing your wishes, and fighting over decisions — costs $10,000-$50,000+ and years of grief.
Run Your Numbers
Evaluate your estate planning readiness.
Emergency Fund Gap Analyzer
You only have 1.3 months covered. Prioritize building to at least 3 months before investing.
What to explore next
- →Should I use an online will service or an attorney?
- →Do I need a revocable living trust?
- →How do I choose a guardian for my children?
Frequently Asked Questions
Can I make a will online?
Yes. For straightforward situations (married, no blended family, modest assets), online services like FreeWill (free), Trust & Will ($159+), or LegalZoom ($89+) are sufficient. For complex situations (blended families, business ownership, assets over $1M, multiple states), use an estate planning attorney ($500-$2,500).
Do I need a trust instead of (or in addition to) a will?
A revocable living trust avoids probate (the public, time-consuming court process of validating a will). If you own real estate, have assets over $100,000, or value privacy, a trust is worth considering. In states with expensive probate (California, Florida), a trust saves significant time and money.