Writing Your First Will: A Step-by-Step Guide

A will is the foundation of estate planning. Yet over 60% of Americans don't have one. Creating a will isn't as complicated as you might think, and it's one of the most important things you can do for your loved ones.

What a Will Does

A will (last will and testament) is a legal document that:

• Names who inherits your assets
• Names an executor to manage your estate
• Names guardians for minor children
• Specifies funeral/burial wishes
• Can disinherit people who would otherwise inherit

Key People in Your Will

Beneficiaries

People or organizations who receive your assets:

• Primary beneficiaries get assets first
• Contingent beneficiaries inherit if primary dies first
• Can be individuals, charities, or trusts

Executor (Personal Representative)

The person who:

• Files your will with probate court
• Inventories your assets
• Pays your debts and taxes
• Distributes assets to beneficiaries
• Handles paperwork and court appearances

Choose someone who is:

• Trustworthy and organized
• Willing to serve
• Capable of handling conflict
• Geographically accessible (or willing to travel)

Guardian for Minor Children

If both parents die, guardian raises your children:

• Discuss with your chosen guardian first
• Name alternates in case first choice can't serve
• Consider values alignment and parenting style
• Geographic location matters

What to Include in Your Will

1. Identification

• Your full legal name
• Statement that this is your will
• Statement that you're of sound mind

2. Revocation Clause

States this will revokes all previous wills.

3. Executor Designation

Name primary executor and alternates.

4. Guardian Designation

For minor children—primary and alternates.

5. Specific Bequests

Particular items to particular people:

• "My engagement ring to my daughter Sarah"
• "My vintage guitar to my nephew James"
• "$10,000 to XYZ Charity"

6. Residuary Clause

Who gets everything else (the residue):

• "The remainder of my estate to my spouse"
• "Divided equally among my children"

7. Signatures

Your signature and witness signatures (requirements vary by state).

Step-by-Step: Creating Your Will

Step 1: Inventory Your Assets

List everything you own:

• Real estate
• Bank accounts
• Investment accounts
• Retirement accounts (note: pass by beneficiary designation)
• life insurance (note: passes by beneficiary designation)
• Vehicles
• Valuable personal property
• Business interests
• Digital assets

Step 2: Decide Who Gets What

• Who is your primary beneficiary?
• How should assets be divided?
• Any specific items for specific people?
• What if primary beneficiary dies first?

Step 3: Choose Your Executor

• Who do you trust completely?
• Who is organized and responsible?
• Have you asked if they're willing?
• Who is your backup?

Step 4: Choose Guardians (If Applicable)

• Who shares your values?
• Who can financially provide for your children?
• Who would your children be comfortable with?
• Have you discussed this with them?

Step 5: Draft the Will

Options:

• Online service (Trust & Will, Freewill, LegalZoom)
• Attorney
• Self-drafted (riskier, not recommended)

Step 6: Sign Properly

Requirements vary by state but typically:

• You sign in front of witnesses
• Witnesses sign (usually 2, some states require 3)
• Witnesses should not be beneficiaries
• Consider notarization (required in some states)

Self-Proving Affidavit

A self-proving affidavit is a notarized statement attached to your will. It:

• Makes probate easier
• Witnesses don't need to appear in court
• Highly recommended
• Required or available in most states

DIY Will Services

Reputable online options:

• Trust & Will
• Freewill (free for basic will)
• LegalZoom
• Rocket Lawyer
• Nolo

What they cost: $0-$200 for basic will

DIY works well for:

• Simple family situations
• Modest estates
• Straightforward wishes

Consider an attorney if:

• You own a business
• You have a blended family
• You want to disinherit someone
• You have significant wealth
• You own property in multiple states

Common Will Mistakes

Storing Your Will

Safe locations:

• Home safe or fireproof box
• With your attorney
• With the probate court (some states allow)
• Safety deposit box (but access can be complicated)

Not recommended:

• Digital-only (original signatures needed)
• Unknown location
• Places that could be destroyed (flood, FIRE)

Tell these people where to find it:

• Your executor
• A trusted family member
• Your attorney

Updating Your Will

When to update:

• Marriage or divorce
• Birth or adoption
• Death of beneficiary or executor
• Significant asset changes
• Moving to a new state
• Change in relationships

How to update:

• Codicil (amendment) for minor changes
• New will for major changes
• Destroy old will copies when replaced

What a Will Can't Do

Some things require other documents or designations:

• Control beneficiary-designated accounts (life insurance, 401(k), IRA)
• Avoid probate (need a trust for that)
• Make medical decisions (need healthcare proxy)
• Manage finances if incapacitated (need power of attorney)
• Provide detailed instructions for complex situations

Your Action Plan

Don't let perfect be the enemy of good. A simple will you create today is infinitely better than the perfect will you never get around to making.