PERSONAL FINANCE

Will Writing 101: Why You Need One and How to Get Started

VC By Victor Cranson · September 4, 2026 · 2 min read

A will is a legal document that states how a person's assets should be distributed after their death, and who should be responsible for carrying out those wishes. Despite its importance, a large share of adults don't have one, often assuming it's only necessary for the wealthy or elderly.

Why a Will Matters at Any Age or Income Level

Without a will, a person's assets are typically distributed according to a country's default succession or intestacy laws, which may not reflect their actual wishes — and can create confusion, delays, or disputes among surviving family members. A will removes that ambiguity, explicitly stating who receives what, and can also name a guardian for minor children, which default succession laws generally cannot do.

Even for people with modest assets, a will provides clarity and can significantly reduce stress and potential conflict for family members during an already difficult time.

What a Will Typically Covers

A will generally names an executor — the person responsible for carrying out the will's instructions — and specifies how assets, including property, bank accounts, and personal belongings, should be distributed among beneficiaries. It can also address guardianship for minor children and, in some cases, include specific instructions for particular assets or sentimental items.

Common Misconceptions About Wills

A common misconception is that a will is only needed once someone has substantial assets. In reality, anyone with any assets, dependents, or specific wishes about their belongings can benefit from having one. Another misconception is that a will alone handles everything — certain assets, like those with a registered nominee or held in joint ownership, may pass outside the will depending on the account type and local law, which is why aligning a will with nominee registrations matters.

Getting Started With Will Writing

Basic wills can often be created with the help of a lawyer at a relatively modest cost, and in some jurisdictions through legally recognized online will-writing services, particularly for straightforward situations. More complex estates — significant assets, business ownership, blended families — generally benefit from working with an estate planning attorney to avoid errors that could make the will difficult to execute or open to dispute.

Reviewing and updating a will after major life events — marriage, divorce, the birth of a child, or a significant change in assets — is just as important as creating one in the first place.

Bottom Line

A will provides clarity and reduces potential conflict for the people you leave behind, and it's relevant at nearly any age or asset level, not just for the wealthy. Start with a straightforward version and update it as life circumstances change. This is general information, not personalized legal advice.