What Is a Will?
In plain English
A will (also called a last will and testament) is a legally binding document that directs how your property and assets are distributed after death. It names an executor to carry out your wishes, can designate guardians for minor children, and specifies funeral or burial preferences. Without a valid will, state intestacy laws determine how your estate is divided.
What Should a Will Include?
A comprehensive will should include: identification of assets and who receives them, appointment of an executor to manage the estate, guardianship designations for minor children, specific bequests of personal property, residuary clause for assets not specifically mentioned, and funeral or burial instructions. The will must be signed by the testator (you) and typically witnessed by two adults who are not beneficiaries. Some states also accept notarized wills.
How Is a Will Different From a Trust?
A will takes effect only after death and must go through probate — a public court process that validates the document and oversees distribution. A living trust takes effect immediately upon creation, avoids probate, and remains private. Trusts offer more control over timing and conditions of distributions. Many estate plans use both: a trust for major assets and a "pour-over" will to catch anything not transferred to the trust.
How Often Should You Update Your Will?
Review your will every 3-5 years and after any major life event: marriage, divorce, birth of children, death of a beneficiary or executor, significant changes in assets or net worth, moving to a different state, or changes in tax law. An outdated will can create family conflicts, unintended distributions, or tax inefficiencies. Updates require either a formal amendment (codicil) or executing an entirely new will that revokes the previous one.
Frequently asked questions
Do I need a lawyer to make a will?
You can create a simple will using online tools or templates, and many states recognize handwritten (holographic) wills. However, an attorney is recommended for complex estates, blended families, or significant assets to ensure the will is legally valid and optimized for tax efficiency.
What happens if I die without a will?
Dying without a will is called dying intestate. State intestacy laws determine how your assets are distributed — typically to your spouse and children in predetermined shares. Without a will, you have no say in who receives your property, who serves as guardian for your children, or who manages your estate.
Can a will be contested?
Yes. Wills can be contested on grounds including lack of mental capacity, undue influence, fraud, or improper execution. Contests are more common with handwritten wills or those made shortly before death. Including a no-contest clause and proper witnessing reduces the risk of successful challenges.
Keep exploring
Related terms
Living Trust
A living trust is a legal entity created during your lifetime to hold and manage assets, allowing them to pass to beneficiaries without going through probate.
Probate
Probate is the court-supervised legal process of validating a will, settling debts, and distributing a deceased person's assets to beneficiaries.
Executor
An executor is the person named in a will to manage the estate after death, including paying debts, filing taxes, and distributing assets to beneficiaries.
Beneficiary
A beneficiary is a person or entity designated to receive assets from a financial account, insurance policy, or estate upon the account holder's death. Keeping beneficiary designations current is one of the most important — and most overlooked — financial tasks.
Intestate Succession
Intestate succession is the legal process that determines how your assets are distributed if you die without a valid will.