What is a will?

A will is a legal document that explains how you want your property, belongings, and responsibilities handled after your lifetime. It also lets you name guardians for children or dependents.

Do I need a will if I don’t have a lot of assets?

Yes. Estate planning is not about wealth — it’s about clarity. Even small estates benefit from having instructions, guardianship decisions, and named beneficiaries.

What happens if I die without a will?

State law decides who receives your property. Unmarried partners, chosen family, and even stepchildren may receive nothing unless documented.

Do I need a lawyer to make a will?

Not always. Many people can create a simple, legally valid will using a free online tool like FreeWill. More complex estates may benefit from an attorney.

How often should I update my will?

Every 1–2 years, or after major life events such as marriage, divorce, having a child, buying a home, or starting a new financial account.

Is a will the same thing as an advance directive?

No. A will covers after-death decisions.
Advance directives cover your health‑care wishes while you are still alive.

Understanding Key Terms

1. Beneficiaries

Beneficiaries are the people or organizations you choose to receive your assets.
You can leave:

• Money
• Property
• Personal items
• A percentage of your estate
• Retirement or insurance accounts

You can also name a nonprofit as a beneficiary using a simple form from your financial institution.

2. Powers of Attorney

A Power of Attorney (POA) is a document that lets you choose someone to make decisions if you are unable to.

Two common types:

• Financial Power of Attorney
Allows someone to handle financial matters on your behalf.

• Medical Power of Attorney
Allows someone to make healthcare decisions if you cannot express your wishes.

Naming someone you trust ensures your affairs continue smoothly during emergencies.

3. Advance Directives

Advance directives allow you to document your future medical choices. These may include:

• Whether you want life‑support measures
• Comfort care preferences
• Pain management wishes
• End‑of‑life treatment choices

This helps your loved ones understand your values and ensures your voice is heard.

Free Checklists to Help You Get Started

✔ Estate Planning Starter Checklist

A simple list to help you gather:

• Names of beneficiaries
• Guardianship choices
• Major assets
• Personal wishes
• Who should manage your estate

✔ Important Documents Organizer

A guide for collecting and storing:

• Identification
• Titles and deeds
• Insurance policies
• Banking and investment records
• Passwords and digital accounts
• Medical documents

✔ Financial Wellness Snapshot

A template to list:

• Monthly expenses
• Income sources
• Savings and debt
• Insurance coverage
• Emergency fund status

✔ Advance Directive Preparation Checklist

Helps you think through:

• Medical preferences
• Emergency care wishes
• Who should speak on your behalf
• How to store and share documents