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Do I Need A Will? Who Needs A Will (And When)

I'm young and single---I don't need a will, right? Maybe. Here's who needs to get a will drafted right away — and who can get away without one.

Who needs a will at at what point in life is it even something to consider? You may not be a millionaire (or maybe you are) so it even something you should worry about? Read on to find out if you need a will and when it’s time to consider one.

What does a will really do?

If you pass away and have a will:

  • Your property and assets will be distributed according to your wishes.

If you pass away and don’t have a will:

  • State law governs who gets your property and assets—this is called “dying intestate.”
  • Usually, your spouse and/or children will take priority and inherit your stuff, but that’s not necessarily true.
  • If you don’t have a spouse or kids, then it’s more complicated.

When do you need a will?

There’s a lot of debate among professionals about who needs a will. And while you can make the argument that it’s always better to have a will, here are the specific categories of people who need (and who don’t need) a will.

Are you married? You need a will.

If you are married, then you need a will because your spouse is someone who is so closely tied to you that it’s important for you to put in writing whether she or he gets your assets upon your death.

Traditionally, your spouse would likely inherit your things even if you die without a will, but you shouldn’t leave that up to chance. Additionally, if you want anyone other than your spouse to receive any of your assets, you would need to include that in your will because that isn’t the default.

Do you have kids? You need a will.

If you have kids, you need a will because your kids are likely to inherit your things if you die intestate, after your spouse, but not necessarily. This means that if you want your kids to inherit after your spouse, then you need to put that in writing so there is no room for error or interpretation by the courts. Additionally, if you don’t want one of (or all of) your kids to inherit, then that needs to be in writing.

Whether you want your kids to inherit your assets or not, it is likely that you have feelings about it one way or another. For this reason, it’s very important that you have a will in place so that the decision is being made by you, not the state.

Another reason why a will is important if you have kids is because you name an executor of your estate and a guardian of your children. The executor is responsible for distributing your assets, and the guardian is responsible for raising your children. Who you name as executor and as guardian is critically important to how your children inherit and how they are raised.

You can (and should) change your will over time. For example, if you have two kids, create a will, then ten years later, have another kid, you will need to update your will to include your third child.

Do you have a positive net worth? You need a will.

If you are single and don’t have kids, but you do have a positive net worth, then you should have a will. Specifically, if you have assets that exceed more than $100,000, you are really going to want to have a living trust which goes into effect right after it’s signed.

When you have assets that need to be distributed when you die, it’s almost always easier on your family to have a will or a trust in place.

Around death, clarity is the operative word.

Are you young, broke, single, and don’t have kids? You don’t need a will (yet).

Your will directs the distribution of assets and if you don’t have many assets to distribute then you may be okay without a will. For example, my friend Stephanie is single, doesn’t have kids, is 28 years old, and has a lot of student loan debt. Stephanie really doesn’t need a will yet because she doesn’t have dependents and she doesn’t have assets.

If you get married, have kids, or come into assets (money or property), then it’s a good idea to get a will.

How to set up a will

Reaching out to estate planners who can help answer all of your questions on complex estates is always recommended. Because when it comes to estate planning and deciding the things you have to decide, you’ll want to get advice from a knowledgeable team. At the end of the day, making a mistake isn’t worth it.

For more simple estate planning or for those or feel comfortable with an online service we recommend, check out our review on Trust & Will.


  • A will is a legal document that dictates the distribution of assets when you die. If you die without a will, state law governs.
  • You definitely need a will if you are married, have kids, or have a lot of assets.
  • You may not need a will if you are young, single, childless, and broke.
  • When it is time for you to get a will in place, make sure you hire an estate attorney to draft it for you. A will can help your family avoid conflict when you die, and it is not something you should draft yourself.


About the author

Natalie Bacon

Natalie Bacon

Natalie is a former corporate attorney and Certified Financial Planner. She has covered financial planning for Money Under 30, and has been featured in The Huffington Post and on Forbes.

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