Make a will in one afternoon
Most people put off making a will because it feels big and morbid. For many people, though, a basic will is an afternoon's work. Here's how to get it done.
Why it matters
Without a will, your state's law decides who inherits what, and a court picks who manages your estate. If you have young children, a will is also where you name who you'd want to raise them.
Step 1: Make your lists (30 minutes)
- What you own: home, vehicles, bank accounts, investments, valuables, anything with sentimental value.
- Who gets what: people, and any charities you want to include.
- An executor: the person who'll handle the paperwork. Choose someone organized and trustworthy, and pick a backup.
- A guardian for any minor children, plus a backup.
Tip. Retirement accounts, life insurance and accounts with a named beneficiary usually go to that beneficiary, whatever your will says. While you're at it, log in and check that those beneficiaries are current.
Step 2: Choose how to make it
- An online will service: guided questions, inexpensive, and fine for many straightforward situations.
- Your state's statutory will form: a few states publish a fill-in-the-blank will. Search "[your state] statutory will form".
- An estate attorney: the right choice if you own a business, have property in more than one state, have a blended family, want to provide for someone with special needs, or expect someone to contest the will. Many offer flat-fee basic wills.
Step 3: Draft it
Whichever route you choose, you'll answer the same questions from your lists. Use full legal names. Include a "residuary" clause that says who gets everything you didn't specifically list. Good tools include this automatically.
Step 4: Sign it the right way
Requirements vary by state, but in most states a valid will is:
- written down and signed by you,
- signed when you're an adult and of sound mind, and
- signed in front of two witnesses who also sign, ideally people who don't inherit anything under the will.
Many states also let you add a self-proving affidavit, signed before a notary, which can make probate quicker. Check your state's rules or ask the service or attorney you used.
Step 5: Store it and tell someone
- Keep the signed original somewhere safe, such as a fireproof box at home or with your attorney.
- Tell your executor where it is. A will no one can find doesn't help.
- Review it after big life changes: marriage, divorce, a new child, a move to another state, or a major change in what you own.
After-a-loss paperwork organizer
Give your family a head start. The organizer's document checklist and key contacts page are a good place to record where your will is and who to call.
One dreaded thing, made easy
This guide is general information for people in the United States, not legal, financial or medical advice. Laws and company policies change and vary by state, so confirm the details for your situation.