Create a clear plan for your wishes, protect the people you care about, and make important decisions easier for your family with a properly prepared will.
A will is a legal document that explains how you want certain property and assets handled after your death and identifies the people you want to carry out those instructions.
A will can also name guardians for minor children and help make your wishes clearer for the people responsible for settling your affairs.
Creating a will gives you more control over what happens to your property and who is responsible for important decisions after your death.
A will provides written instructions about how you want your assets distributed and can reduce uncertainty for your family.
You can choose the person who will be responsible for carrying out the instructions in your will and helping manage your estate.
Parents can use a will to identify the person they would want to care for their minor children if both parents are unable to do so.
A clear estate plan can make an already difficult time easier by giving family members guidance about your intentions.
A will can address several important parts of your estate plan depending on your family, property, and personal wishes.
Common items include:
Some assets may pass outside of a will through beneficiary designations, joint ownership, or trusts, so a will is usually one part of a broader estate plan.
A will and a living trust can both play important roles in an estate plan, but they work differently and are often used together rather than as substitutes for one another.
A will explains how you want certain assets distributed after your death, allows you to name an executor, and can identify guardians for minor children.
A living trust allows assets placed in the trust to be managed during your lifetime and distributed according to the trust's instructions after your death.
Assets properly transferred into a living trust can generally pass to beneficiaries outside of probate, while assets controlled by a will typically go through the probate process.
A living trust does not necessarily replace the need for a will. Many estate plans use both documents because each can address different needs, including property distribution, guardianship, and assets that were not transferred into the trust.
Creating a will is easier when you work through the major decisions in an organized order.
Make a list of important property, accounts, personal belongings, and other assets you may want addressed in your estate plan.
Decide who should receive your property and consider naming backup beneficiaries in case your first choice cannot inherit.
Choose a responsible person you trust to carry out the instructions in your will and help settle your estate.
If you have minor children, identify who you would want to care for them if you and the other parent are no longer able to do so.
Use an estate-planning service or qualified legal professional to prepare a document that reflects your decisions and complies with applicable state requirements.
Follow the witnessing and signing requirements that apply in your state so the document is properly executed.
The executor is the person responsible for carrying out the instructions in your will and helping manage the estate-settlement process.
A good executor should generally be:
It is also a good idea to name an alternate executor in case your first choice is unable or unwilling to serve.
For parents of minor children, naming a guardian can be one of the most important reasons to create a will.
Consider factors such as:
It is wise to discuss your wishes with the person you plan to name before including them in your will.
Beneficiaries are the people or organizations you want to receive property or other assets from your estate.
These are the people or organizations you first intend to receive your property.
Naming alternate beneficiaries can help ensure your wishes are still followed if a primary beneficiary dies before you.
Life insurance policies, retirement accounts, and some financial accounts may pass according to separate beneficiary designations rather than your will, so those records should be reviewed as part of your overall plan.
A will generally must be signed according to the laws of your state to be legally valid.
Many states require witnesses, and rules can differ regarding who may serve as a witness and whether notarization is needed or recommended.
Because requirements vary by state, make sure the process you use follows the rules that apply where you live.
A will should be reviewed periodically and after major life changes to make sure it still reflects your wishes.
Consider reviewing your will after events such as:
Even when there has not been a major change, reviewing your estate plan every few years can help keep it current.
Creating a will is an important step in making your wishes clear and helping the people you care about understand how you want important decisions handled.
A thoughtful estate plan can provide greater clarity for your family while giving you more control over your property, beneficiaries, and the people you trust to carry out your wishes.
A will can still be useful even if your estate is modest because it can identify beneficiaries, name an executor, and address guardianship for minor children.
Yes. Online estate-planning services can help people create wills, although the document still needs to comply with the legal requirements of the state where you live.
Not necessarily. A will generally provides instructions for the probate process rather than avoiding it. Other estate-planning tools, such as certain trusts, may help some assets pass outside probate.
Yes. Parents commonly use a will to identify the person they would prefer to care for minor children if needed, although the final appointment is generally made by a court.
Assets such as life insurance policies and retirement accounts generally pass according to their beneficiary designations, which is why those designations should be kept current.
Review it after major life events and periodically even when nothing significant has changed.
Keep the original in a safe but accessible location, and make sure your executor or another trusted person knows where it can be found.
Requirements vary by state. Some states do not require notarization for the will itself but may use notarization for a self-proving affidavit or similar document
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