What is a Last Will and Testament — and Do You Need One?
By Sage Estate Planning
You've probably heard the term before. Maybe a family member mentioned it, or you caught a reference in a movie or TV show. But when it comes to your own life, a last will and testament can feel like something you'll get to "someday." The problem is, someday has a way of never arriving.
So let's break it down — what a will actually is, what it does, and whether you truly need one.
What Is a Last Will and Testament?
A last will and testament is a legal document that records your wishes for what should happen to your property, assets, and dependents after you die. In it, you can:
Name beneficiaries — the people or organizations you want to inherit your assets
Appoint an executor — the person responsible for carrying out the instructions in your will
Name a guardian for any minor children
Specify funeral or burial wishes
Leave instructions for pets, including who will care for them
In short, it's your voice after you're gone. Without one, the state steps in and makes those decisions for you — and its answers may look nothing like yours.
What Happens If You Die Without a Will?
Dying without a will is called dying intestate. When this happens, your state's intestacy laws determine who gets what. These laws follow a rigid formula — typically prioritizing spouses, then children, then parents, then siblings — regardless of your actual relationships or intentions.
That means:
A close friend who was like family gets nothing
An estranged relative may receive a share of your estate
A partner you were never legally married to could be left out entirely
Your favorite charity receives not a single dollar
Perhaps most importantly, if you have minor children and no will naming a guardian, a court will decide who raises them — without any input from you.
Do You Actually Need a Will?
The short answer: yes, most people do.
Here's a more nuanced take. You especially need a will if any of the following apply to you:
You have children. Full stop. A will is the only way to formally name a guardian for your kids. If something happens to you and your co-parent, who do you want raising your children? A will lets you say so.
You own property. A home, a car, land, a bank account — all of these need to go somewhere. Without a will, the distribution process can be slow, costly, and contentious.
You have specific wishes. Maybe you want a particular piece of jewelry to go to your niece, or you'd like a portion of your estate donated to a cause you care about. A will makes that happen.
You're in a non-traditional family situation. Blended families, unmarried couples, estranged relatives — intestacy laws don't account for the complexity of real life. A will does.
You want to spare your family stress. Grief is already hard. A clear, legally valid will removes ambiguity and significantly reduces the chance of family conflict during an already painful time.
Common Misconceptions About Wills
"I don't have enough assets to need a will." A will isn't just about wealth — it's about clarity. Even modest estates benefit from clear direction, and any estate with minor children or meaningful personal property is worth documenting.
"My family knows what I want." Verbal wishes aren't legally binding. Even the most well-intentioned family members may disagree about what you "would have wanted," especially under the stress of loss.
"I'm too young to worry about this." Estate planning isn't about age — it's about responsibility. Accidents and illness don't check birth dates. If you have people who depend on you, or property you care about, a will is simply the responsible step.
"It's too expensive or complicated." With the right guidance, creating a will is more accessible than most people expect. At Sage Estate Planning, we make the process straightforward so you can get this essential document in place without unnecessary complexity or cost.
What a Will Doesn't Cover
It's worth knowing the limits. A will does not automatically govern:
Assets with named beneficiaries, such as life insurance policies, IRAs, or 401(k)s — these pass directly to whoever you designated on those accounts
Jointly held property, which typically passes to the surviving owner
Assets held in a trust
This is why estate planning is broader than just a will. A comprehensive plan may also include a durable power of attorney, a healthcare directive, and potentially a trust — depending on your situation. But for most people, a will is the essential foundation.
Taking the First Step
If you don't have a will, you're not alone — studies consistently show that the majority of Americans don't have one. But knowing you need one and not having it is a gap worth closing.
The best time to create a will was years ago. The second-best time is now.
At Sage Estate Planning, we guide individuals and families through the process with clarity, care, and expertise.
Ready to get started? Contact Sage Estate Planning today to schedule a consultation.
This post is intended for informational purposes only and does not constitute legal advice. Please consult with a licensed estate planning attorney for advice specific to your situation. Sage Estate Planning is not a law firm and does not provide legal advice. We guide you through estate planning using attorney-approved, state-specific documents generated through a third-party legal platform. If your situation requires legal advice, or involves complex or contested matters, we will refer you to a licensed attorney.
