When Should You Make a Will?

Q: When should you make a will? A: As soon as you become a legal adult. A will helps you take control over your future and reduces stress for all.

Start your will today

Trustpilot star rating bar
Woman in black shirt reading on when should you make a will on her laptop.

Contents

Updated on: October 25, 2024
Read time: 8 min

A will is a legal document that guides family members on what to do in case anything were to happen to you. It also allows you to appoint a healthcare proxy, designate a power of attorney, and name a guardian for your children. 

Making a will is one of the most important things you can do to manage your estate, protect your family, and provide financial security. And contrary to popular belief, a will isn’t about getting old or something for the wealthy. It’s about being prepared, and that can start at 18. 

A smiling woman is making notes on when to make a will while sitting on a sofa.

It’s always smart to begin thinking about making a will as soon as you become a legal adult. Take charge of your financial future and learn how to go about this process.

7 life events that warrant a will

There isn’t a defined moment that mandates the creation of a will. But certain life events warrant prioritizing your estate plan.

1. Getting married or divorce

A marriage constitutes the coming together of two people and their financial situation. Any instance that combines assets should serve as a trigger for creating a will and other estate planning documents. On the other hand, a divorce also requires you to update your estate plan to reflect the current circumstances.

2. Starting a business

It's wise to start an estate plan when you launch a business. A business is a valuable asset that requires protection. A comprehensive estate plan can help you designate a successor, lay instructions for managing the business, and minimize any tax burdens resulting from the business income and valuation.

3. Opening new financial accounts

When you start a savings account, or any other financial account for that matter, one of the first things you have to do is designate a beneficiary. Many choose to leave the funds in these accounts to their spouse, an adult child, or another close family member in the event of one spouse's dying. This is an estate planning trigger because you want to ensure all estate documents have consistent information.

4. Welcoming a new child or family members

One of the most obvious estate planning triggers is the birth of children. A will can help you set guardianship and financial security for the new child and each one that follows in case something happens to you or your spouse. Anytime there are new and additional family members to consider, like grandchildren and stepchildren, it is an excellent time to create or update your will to ensure all are taken care of.

5. Changes in health

Any change in your health standing is a sign to start estate planning because it can impact your care wishes and your ability to manage finances independently. A will can help you appoint a healthcare proxy to make the medical decision if you cannot. Unfortunately, many Americans die due to a health condition and leave their loved ones in flux regarding their assets.

6. Receiving an inheritance

An effective will reflects the latest circumstances. Therefore, if you expect to or suddenly receive a substantial inheritance, be prepared to update your estate plan to reflect the additional money or other assets.

7. Getting a new home

Acquiring a new home and any additional property ownership increases the complexity of your assets. Updating your will ensures all property gets passed on per your wishes and reduces stress and confusion among family members.

Estate planners can help you prioritize your estate planning needs when you become a legal adult or reach one of these obvious estate planning triggers. Even if none of the above scenarios apply to you right now, it's still a good idea to create a will sooner than later.

What happens if you die without a will? 

Surprisingly, over half of Americans pass away without a valid and legally enforceable will. This figure includes celebrities like Amy Winehouse, Heath Ledger, and Aretha Franklin. That’s a significant percentage of the population that risked everything they owned by letting state law decide who should get their estate belongings. 

In the U.S., dying without a will—also known as intestate—means the state will step in and distribute your assets and debts as per the state's laws of intestacy because you didn't leave any instructions. Intestacy succession laws vary from state to state and can significantly impact who gets what. For example, in Texas, most of the deceased person’s estate is automatically passed on to the spouse or child. This is not the case in other states. 

A tragic consequence of dying intestate is the increased stress and confusion it creates for loved ones. They probably are already in a world of hurt, and now, they have to decide what you would have liked and possibly even fight to claim their rights. A will eases their burden during an emotionally difficult time.

Dying without a will also delays the passing on of the assets as they have to undergo a court-supervised probate process. Probates are a time-consuming and expensive legal process that generally involves court visits and paperwork verification– all of which can unnecessarily burden the surviving spouse and children. With a will, you can avoid lengthy probate court proceedings.

How to make a valid will

Creating a will is a multi-step process that consists of the following steps:

  • Listing of all assets and debts
  • Planning distribution of belongings
  • Identifying beneficiaries
  • Selecting an executor
  • Drafting the will
  • Getting it signed and notarized
  • Storing it in a secure place

LegalZoom has a complete guide on how to write a will.

check
State-specific and attorney-backed
check
Step-by-step instructions
check
Save and edit anytime
Create my will

Benefits of using an estate attorney or service 

Even though a will seems like a straightforward document, any drafting error or oversight of assets can increase confusion and create grave consequences for your loved ones after your death. Therefore, it's wise to work with an experienced attorney to review, if not draft, your will to ensure it’s legally sound. The attorney can also guide you on the tax implications of your will and help you not fall prey to common drafting mistakes.

Secure your future: Start an estate plan

At 18, life is usually all about studies, parties, friends, and hanging out. For most young adults, an estate plan is off their radar. But life can throw many curveballs, and it’s best to take charge from the beginning. By not having a valid will, you risk leaving estate matters in the hands of the state's probate process. Would you like your parents and future spouse fighting over your assets for years? Having a will prevents such unpleasant scenarios, ensures your end-of-life wishes are followed, and provides a sense of financial security in case of your death for both you and your loved ones. 

LegalZoom can help you create your will for $99 with our basic will package. With our premium will plan, you can even get your documents reviewed by an attorney, make unlimited revisions, and schedule unlimited 30-minute calls with an attorney on new personal legal topics. For larger assets, LegalZoom can help you with estate plans.

check
Provide for children and pets
check
Name beneficiaries
check
Make updates when life changes
Start my plan

FAQs

Why do I need a will if I don't have many assets?

It’s a financially wise move to get a will, even if you don’t have much “wealth.” Without a will, in the unfortunate event of your death, a probate court will control the distribution of all your money and other assets. A legal will also reduces any uncertainties and anxiety amongst your loved ones concerning funeral arrangements, asset distribution, and how to care for any minor children or pets. 

Can I write my own will, or do I need a lawyer? 

You can certainly write your will. There’s no need to hire an estate attorney. However, you should only go this route if you have simple assets and plan to leave everything to one person, say a spouse or child. Suppose you have complex family dynamics like dependent children from previous relationships or have multiple assets like inheritance, retirement accounts, stocks, and various properties. In that case, it’s better to get the assistance of an estate planning lawyer

How often should you update your estate plan? 

Many believe that writing a will is a once-and-done scenario. It’s not. A will should reflect your latest circumstances and preferences. A good rule of thumb is to revisit and update your estate plan every three to five years or after every major life event like marriage, divorce, births in the family, starting a business, and a spouse's death. Some estate planners also recommend revisiting your will if you frequently leave the country for long periods.

How much does a will cost? 

A basic and straightforward will can cost approximately $150, but the rates can go as high as $1,000. The final figure depends on your assets' complexity and where you’re based. If you hire an estate planning attorney, you can expect them to command an hourly fee of $300–$400.

Start your will todayStart Now
Twitter logoFacebook logoLinkedIn logoReddit logo

This article is for informational purposes. This content is not legal advice, it is the expression of the author and has not been evaluated by LegalZoom for accuracy or changes in the law.

70 days ago
Trustpilot star rating bar

legal zoom is the way to go

The representative was very knowledgeable about how long it takes to transfer a deed from one person to the next he explained everything and he was very pleasant when speaking to him

Ross
70 days ago
Trustpilot star rating bar

I find that LegalZoom has all the…

I find that LegalZoom has all the answers if you're starting a business an LLC and incorporation or you're doing a trust or a Will. These are the people you want to trust don't go to an expensive attorney you're just throwing your money away. Legal soon gets five stars!

Sean Christopher
70 days ago
Trustpilot star rating bar

I spoke to the representative today about a Trust...

I spoke to the representative today regarding a question about an existing Living Trust. She was very helpful - told me exactly what I needed to know and how to accomplish it. As a representative in the Financial field I guide clients all the time on where to get documents done right - and its always LegalZoom - easy and effecient!

Gareth
79 days ago
Trustpilot star rating bar

We could not be more Pleased with the…

We could not be more Pleased with the help and service we had during the up dating of our Living Will and Advanced Directive

Richard Poulton
82 days ago
Trustpilot star rating bar

Legal Assistance for the rest of us

Legal Zoom has made it easy and affordable for us to create an LLC, a Will, and a Trust for our families.

K Chapman
85 days ago
Trustpilot star rating bar

pleasant and willing representatives…

pleasant and willing representatives ready to help me navigate through your system and supply attorney contact information for my legal questions for my last will & testament

Mark Impink
85 days ago
Trustpilot star rating bar

LegalZoom .com has exceptional, real, staff to help. I met one!

I purchased multiple accounts to update both our Living Wills and Estate Plans. After utilizing LegalZoom.com’s user-friendly and intuitive platform for these legal documents, I found it necessary to call for clarification on some information within our account. I spoke with Sandra Balderas, who expertly addressed the mistakes I had inadvertently made. Her professionalism and friendliness greatly enhanced the experience. I realized that LegalZoom is not only a straightforward website to navigate for such complex matters, but it also boasts exceptional employees. Thank you, LegalZoom.com, and especially Sandra Balderas, for guiding me through the process. I’m thrilled to have discovered LegalZoom.com.

Max -Phoenix, Arizona
85 days ago
Trustpilot star rating bar

Sarah was most helpful today regarding updating my estate plan

Sarah was most helpful today regarding updating my LZ docs created 3 years ago. She made sure I had all the information I needed, not just what I asked for. Thank you Sarah!

Diane Floyd
91 days ago
Trustpilot star rating bar

Quick and easy experience creating a…

Quick and easy experience creating a will package.

Kristin Steel
96 days ago
Trustpilot star rating bar

Used them past 10 years

Used them past 10 years. I needed another will and power of attorney.

MERLYN C
96 days ago
Trustpilot star rating bar

Tammy was wonderful and very…

Tammy was wonderful and very knowledgeable. It's because of her that I am going to open a living trust with legal zoom. She was great. Thank You

Erin
104 days ago
Trustpilot star rating bar

Pleasant Experience

Patience and weel given explanation about the process of how a "Living Trust" & "Deed" works after transitioning and guidance on how to contact an attorney whenever I need legal advice.

Sharron Martin
106 days ago
Trustpilot star rating bar

It was a breeze to deal with Legalzoom…

It was a breeze to deal with Legalzoom and finished my estate plan within an hour!! Thanks again

BT
110 days ago
Trustpilot star rating bar

Great team…

Mark and Legal Zoom make estate planning affordable and attainable.

Christopher Maginnis
142 days ago
Trustpilot star rating bar

Living Will & Forming my LLC

I have used Lega Zoom for several items, including my living will and items to form my LLC for my business. It's fast, easy, and thorough. The customer service is fantastic! I am working with David on a few items for my will,l and he has been a delight. He follows up when he says he will and is incredibly helpful. I highly recommend this company.

Kristen J
154 days ago
Trustpilot star rating bar

Nadia made it very easy for me to make…

Nadia made it very easy for me to make a decision to sign up and create my estate planning documents with legalsoom. She was very professional and knowledgeable about the package that I chose. She also offered her direct contact for any future questions I might have.

Melita D'Anna
163 days ago
Trustpilot star rating bar

Kylie helped me to review my history of…

Kylie helped me to review my history of trying to complete my estate plan and contacting a legal advisor that comes with my account. She was patient, knowledgable, and helpful.

Paula
167 days ago
Trustpilot star rating bar

I have worked with Mark Champ on… Last Will & Testament, Living Will, Quit Claim Deed

I have worked with Mark Champ on several documents I needed and every time he has provided me with every thing I needed and with so much graciousness and knowledge. It has always been such a pleasure working with Mark!!!!!!!!!!!!!

Cathy Donaldson
202 days ago
Trustpilot star rating bar

Most Dedicated Representative!

Patti Green was the most informative person in guiding me through the process of completing my estate plan . She was always there for me to answer my questions and give excellent advice . Also , she was very polite and considerate ! Legal Zoom is so fortunate to have Patti on their team . Thank you , Patti for all of your assistance and kindness !

Priscilla Page
280 days ago
Trustpilot star rating bar

Patti Green is GREAT!

Ms. Patti Green walked me through the Estate Planning process. She was very professional, patient and kind. Planning for when you are no longer here is very intricate and difficult. Working with Ms. Green helped give the assurance that I am doing the right thing for myself and loved ones.

TRINESSA
Rated4.6out of 5 based on23,911+ reviewson

Showing our favorite reviews