To some, including myself, a will only ever felt associated with an ultra-elite person’s death. “The pool house will go to the fourth eldest.” “And for the seventh child, the third Lamborghini.” However, this could not be further from the truth. Practically anyone can establish a will. The biggest barrier of entry is simply understanding what a will is and why someone may want to write one up in the first place.

1. What Exactly is a Will?

A will, or more formally referred to as a last will and testament, is by legal definition an outline of how a person’s assets, property, and personal belongings will be distributed after their death. Informally speaking, a will allows someone to pick who gets what of their belongings after they die. Furthermore, a will allows them to designate guardians for minor children, if applicable. This sounds nice in theory, but why would anyone care to do all this in the first place?

2. The Consequences of Not Writing Up a Will

Although it may not seem as detrimental, the absence of a will could cause a huge amount of unnecessary stress on your loved ones. This includes:

• Having to Deal With the State: Without a will, the state determines how assets are distributed, which may not align with your personal wishes. This could cause some of your loved ones to be left out of receiving everything you wanted them to.
• Extending the Grieving Process: On top of dealing with your death and loss, your loved ones will also have to spend excessive time both legally and personally figuring out what you may have wanted.
• Leaving Your Children in a Tough Spot: If no designated guardian was previously established, your children will also have to deal with an extended process of new guardianship in order for your loved ones to take care of them. This also has the chance of having them be submitted into state care, depending on the circumstances.

3. What Are The Next Steps?

Luckily, the hardest part is over! Now that you understand what a will is and why you should write one, the next step is drafting one up. The fastest and most affordable way would be to use an online resource, such as MyKeyDocs, to create a last will & testament for your state of residence. This would then need to be officialized, which just means you have to sign it and have a notary witness this. Another option is to find an attorney near you, which could vary in price and time depending on the firm.

Final Thoughts

Dealing with death, especially of our own eventual ones, can be incredibly daunting and overwhelming. However, the luxuries of diminishing the stress of our own deaths are not locked behind any wealth barrier. A last will and testament is something anyone can do, and everyone should!