With a last will and testament, simply referred to as a will, you can leave instructions for what happens to your estate to provide for your loved ones and family members after you die. It’s relatively straightforward to make a will, but you’ll want to understand what’s legally required to create one and what happens without it. Keep in mind that a will is just one part of a complete estate plan and may work alongside other documents, such as trusts, powers of attorney, advance directives, and beneficiary designations. Whether you’re just getting started on your estate plan, or you have questions about the ins and outs of probate, our library of explainers has what you need.
What is a will?
A last will and testament is a legal document that lets you distribute your assets, money, and belongings to your beneficiaries when you die. The terms of a will only kick in after you pass away; they’re not enforceable during your lifetime. A will also allows you to name a guardian for your minor children, and appoint an executor, the person who will manage your estate and carry out the terms of the will.
If you’re new to estate planning and the concept of wills, you are likely to come across the following terms:
Testator: The person who creates and signs the will
Beneficiary: A person or organization named in the will to receive assets or property
Executor: The person appointed to carry out the terms of the will and manage the estate after the testator dies
What’s covered in a will?
You can use your will to give away virtually anything you own outright. This could include real estate, like your house, money, high-value assets like your cars or art collection, and even items of little monetary value, like your plants.
→ However, some things you should never put in your will
It’s worth knowing that some assets pass outside of a will entirely. Jointly owned property, retirement accounts, and life insurance policies with named beneficiaries typically transfer directly to the designated recipient, regardless of what your will says.
Making a will involves naming beneficiaries to receive your assets, and it should be constructed according to certain rules. The specific requirements to make a will legally valid are set by state law, so they vary depending on where you live. At a high level, a will includes the signature of the testator, and the signature of two witnesses who can testify that the testator signed the document and was competent to do so.
Are wills only for the wealthy?
Everyone can benefit from having a will. People who have children, are married, or divorced especially need a will to make sure their dependents and family members are covered, but even single people can greatly benefit from a will.
A will can help you:
Name beneficiaries for your assets
Name guardians for minor children
Choose an executor to manage your estate
Leave specific items to specific people
Reduce confusion and potential conflict for loved ones
If you have just one item you want to pass on to a specific person, a will is necessary to make sure that happens.
→ Find out who else needs a will
When there is no will
If you don't have a will, then the probate court will decide what to do with your assets after you're gone based on state intestacy laws. Your surviving spouse and next-of-kin typically inherit something, but there won’t be a way to enforce what assets they specifically receive. (If you want someone other than a spouse to inherit something then you definitely need a will to say so.)
A will doesn’t just codify who gets your stuff. You can use it to specify which items your beneficiaries can receive or how much. Without a will, your heirs may not receive the assets exactly as you had intended.
→ Learn more about what happens if you die without a will
Types of wills
There are many different types of wills , and one of them may be right for you.
How to write a will
Here are some common ways to of making a will:
Do it yourself
You can write a will on your own from scratch, but note that handwritten wills may not be valid in every state. Unless you have legal experience, it’s possible you may miss something or leave errors, which can make your will more vulnerable to a court challenge or contest.
You can also fill out a blank will form or template, but DIY wills may leave gaps in your estate plan. A last will and testament template that you fill in on your own may not be tailored to your personal circumstances.
Make an online will
Using a digital service or app is a good option for many people because you can make a personalized and state-specific will without necessarily having to research your state’s laws.
Just make sure any service you use has been vetted by attorneys so that you know it will create valid wills. Keep in mind that after using an online service, you’ll typically still need to print, sign, and have the appropriate witnesses sign your will before it’s legally valid.
→ Read about online wills and how to make one
Work with an estate attorney
The traditional way to create a will is by working with an estate planning attorney who specializes in wills and trusts. Attorneys who are licensed to work in your state should know the local laws, and they can help you create a strong will that’s tailored to your needs.
While many people can create an effective will without an attorney, you may benefit from an attorney’s help if you have:
A large or high-value estate
A blended family
Many beneficiaries
Business ownership interests
Dependents with special needs
A close family member you want to disinherit
An attorney can also help you plan for any estate tax or inheritance tax.
→ Learn more about who should hire an attorney
Can you just write a will and get it notarized?
Notarization in and of itself won’t qualify your will as a valid legal document, but if you want to make your will self-proved, then you’ll need to pay a visit to a notary public with your witnesses. With a self-proved will, your witnesses don’t need to appear in court after you’ve died to testify about your will.
→ Learn more about notarizing a will and when it’s necessary
How much does a will cost?
Price of online wills: $0 to $300
Price of attorney-drafted wills: $200 to $1,000 or more
Creating a will with a lawyer will almost always cost more, especially in bigger cities. However, it may be worthwhile if you have more complex needs, like if you need legal advice on minimizing taxes, creating a trust, or writing someone out of your will. Keep in mind that costs can also vary based on your state, your attorney’s rates, the complexity of your estate, and whether you’re creating additional estate planning documents alongside your will.
→ Learn more about the cost of a will
After creating your will
Once you’ve created your last will and testament, you should revisit it regularly, especially after you reach new milestones, like getting divorced, remarried or having another child.
Can I update my will?
You may want to update your will if you've made an error, left something out, or experienced a major life event. Once your will is signed, you can make changes to your will — like by updating the terms with a codicil — but you’ll generally have to go through the same formal signing process of having the new document witnessed. That’s why if you have many updates it’s common to simply write a new will that replaces the old one.
→ Learn about updating your will with a codicil
Where to store your will
Your will won't be very useful if no one can find it. It’s a good idea to leave a copy with someone you trust like your executor. Your executor should also know where to find the original signed will, since probate courts typically require the original document, not a copy. You should think twice before putting your will in a safe deposit box, where it may be difficult for someone to find once you’ve passed away.
→ Find out how to keep your will safe
Other will and estate planning questions
Below are some other common questions you might have on wills and estate planning.
How to know if you’re in a will
After the testator dies, their will eventually becomes part of the public record once probate has concluded. Contrary to pop culture, will readings don’t actually happen. If you’re mentioned in a will as named beneficiary, then the executor will notify you.
→ Learn more about how to find a will
Who should be my beneficiaries?
The beneficiaries of your will can be your family, friends, relatives, and even charities or businesses. A will can include contingent beneficiaries, or back-up beneficiaries in case the primary ones have predeceased you.
Your beneficiary can also be your executor, the person tasked with carrying out the terms and administering your estate.
→ Learn more about choosing beneficiaries
What is probate of a will?
Probate is the process of administering your estate after you die. If you die without a will, then the local court will determine your heirs during this time. When you have a will, its terms guide what happens next. The authenticity of your will may also need to be proven, and during this time your will may also be contested or challenged by your beneficiaries and potential heirs. Writing an airtight will can help probate run smoothly, avoiding potential court interaction.
→ Learn when a will has to be probated
How is a will different from a trust?
Wills and trusts are two important, but different, parts of an estate plan, and they can work hand in hand. A will provides instructions for distributing assets after your death and can be used to make one-time distributions. Pairing a will with a trust can provide greater control over how and when certain assets are managed and distributed, such as allowing children to receive an inheritance at an age you determine.
A trust is a separate legal arrangement and can also help certain assets avoid probate when it is properly established and funded. You can also use your will to create a trust upon your death, known as a testamentary trust.
Can a will be contested?
A significant difference between a will and a trust involves the potential for a legal challenge. An aggrieved family member or other interested party may contest a will if they believe there is a valid legal reason to challenge its terms. Depending on state law, potential grounds can include questions about the person’s mental capacity when the will was signed, allegations of undue influence, improper execution of the document, or claims that another will should control the estate.
As a will generally goes through probate, a challenge can become part of the probate court process. For this reason, having a will does not guarantee that an estate will avoid probate court or that its instructions will go unchallenged. A contested will can potentially delay estate administration and increase legal expenses before assets are distributed.
Trusts can also be challenged, but a properly established and funded living trust generally allows assets held by the trust to be administered outside of probate. This can make a trust an important estate planning tool for people who want greater control over asset distribution and are concerned about potential disputes among beneficiaries or family members.
The appropriate approach depends on your assets, family circumstances, and estate planning goals. An estate planning attorney can help you understand how wills and trusts work under the laws of your state and determine how to structure your estate plan to reduce the potential for future disputes.
→ Learn more about trusts vs wills and how they work together
Do I need a will if I have life insurance?
The proceeds of a life insurance policy can pass to a beneficiary outside of a will. In fact, you shouldn't include life insurance in the terms of your will, but it can work alongside of it as part of your estate plan. It’s also a good idea to review and update your life insurance beneficiary designations (just as you would revisit your will) after major life events such as a marriage, divorce, or birth of a child.
→ Learn more about life insurance and financial planning
What makes a will legally valid?
State laws determine what constitutes a legally valid will, meaning your personal will requirements depend on where you live. That said, most states share a few common requirements:
The testator must generally be an adult (typically 18 or older).
The testator must be of sound mind at the time they sign the will.
The will must be signed by the testator.
The will typically requires two witness signatures.
It’s important to note that notarizing a will does not make it legally valid in most states. What notarization can do is make it self-proved — meaning your witnesses won’t need to appear in court during probate to confirm their signatures. It’s a helpful extra step, but not a substitute for proper signing and witnessing.
Will vs. living will vs. power of attorney
It’s easy to confuse the different documents that are part of the estate planning process. The following three different legal documents all serve distinct purposes, while also working together as part of a comprehensive estate plan.
A will (also called a last will and testament) provides instructions for what happens to your assets and dependents after you die.
A living will (also called an advance directive) provides instructions for your medical care if you become unable to communicate your wishes during your lifetime.
A power of attorney authorizes someone to make legal, financial, or medical decisions on your behalf during your lifetime.
Having all three documents in place gives you and your loved ones a much clearer roadmap, no matter what life brings.
