How to Make a Will: A Simple Guide
A will lets you decide who gets what you own, who looks after your children and who handles your affairs. Here's what a will covers, what happens without one, the ways to make one, how to make it valid and when to update it.
By Pond.com editors Updated 3 min read
Quick answer
- A will says who gets your property, who will care for your minor children and who will handle your estate.
- Without one, state law decides who inherits, and a court chooses a guardian for your children.
- You can make a will online, with a template or with a lawyer; complex situations usually need a lawyer.
- Most states require you to sign in front of two witnesses, and a notarized statement can make probate easier.
- Retirement accounts and life insurance go to the beneficiaries you name on them, not through your will.
More than half of American adults don't have a will. It's easy to put off, but a will is one of the kindest things you can do for your family. It makes your wishes clear, can save them time and money, and lets you choose who would raise your children.
This article is general information, not legal advice. Will rules vary by state; for complex situations, talk to an estate planning lawyer.
What a will covers
- Who gets your property, from your home to personal items
- A guardian for your minor children
- An executor to handle your estate
- Gifts to friends or charities
What happens without a will
If you die without a will, state law decides who inherits, usually your spouse and children first, then other relatives. A court appoints someone to manage your estate and chooses a guardian for your children. Unmarried partners and friends may get nothing.
Ways to make a will
| Option | Good for | Things to know |
|---|---|---|
| Online will service | Simple situations | Low cost; follow the signing instructions carefully |
| State statutory will form | Very simple estates, in states that offer one | Limited choices |
| Estate planning lawyer | Blended families, businesses, larger estates, special needs | Costs more, but tailored and checked |
Steps to make your will
- List what you own and any debts.
- Decide who gets what, including backup choices.
- Choose an executor, and a backup.
- Choose a guardian for any children, and ask them first.
- Write the will using your chosen method.
- Sign it properly: most states require two adult witnesses who don't inherit under the will. A notarized "self-proving" statement can speed up probate.
- Store it safely and tell your executor where it is.
What your will doesn't control
Some things pass directly to the people named on them, whatever your will says:
- Life insurance and retirement accounts, to the named beneficiaries
- Bank accounts with a payable-on-death beneficiary
- Property owned jointly with right of survivorship
Keep those beneficiary forms up to date. See life insurance explained.
Wills and trusts
A living trust can help avoid probate, keep things private and manage money for children over time. It's more work to set up and isn't needed by everyone. Ask a lawyer whether it suits you.
Common questions
Not always. Online will services and state-approved forms can work well for simple situations. A lawyer is worth it if you have a blended family, a business, significant assets, a dependent with special needs, or property in more than one state.
The executor is the person you name to carry out your will. They gather your assets, pay debts and taxes, and distribute what's left. Choose someone organized and trustworthy, and ask them first.
Review it every few years and after major life events, such as marriage, divorce, a new child, a death in the family, a move to another state or a big change in what you own.