Who should have a will (and why it is not only for the wealthy)
The question who should have a will comes up in almost every planning meeting. Many people assume wills are for the rich or for older adults only. In reality, most everyday families in Arizona, Minnesota, and Wisconsin need a simple will long before they feel wealthy.
Why wills matter for regular families
A will is a legal document that says who receives your property and who manages your estate after you die. Cornell’s overview of a will explains that it records your instructions for handling your estate. When you have a will, you choose the decision makers. When you do not, state law fills the gap through intestate succession rules.
Signs that you should have a will
You should have a will if any of these apply to you:
- You have minor children who would need a guardian if something happened to you.
- You own a home, a condo, a cabin, or any other real estate.
- You have bank accounts, retirement funds, or life insurance with real value.
- You are married or in a committed relationship and want to protect your partner.
- You care who receives your belongings, even simple items with sentimental value.
If you see yourself in that list, you already fit the profile of someone who needs a will, even if your net worth is modest.
What happens without a will
When you die without a will, you die intestate. According to Cornell’s article on intestate succession, state law then sets a default order for who inherits. That order may send assets to relatives you barely know while excluding people you love, such as an unmarried partner or stepchildren.
In Arizona, Minnesota, and Wisconsin, intestate estates still go through probate. The court appoints someone to handle the process and divides assets by statute. That takes time, adds cost, and often increases conflict among relatives who expected a different result.
Why parents especially need a will
For parents, who should have a will is an easy question. You should. Your will is where you nominate a guardian for your children. If you never write one, a judge must choose without clear guidance from you. Relatives might disagree about what you would have wanted, which can delay decisions and strain relationships.
In addition, your will can name someone to manage any money that passes to your children. You can direct how those funds should support housing, education, and health, instead of leaving everything to a default system.
Young adults and couples without children
You may feel too young for a will if you are in your twenties or thirties. However, you probably still have a car, personal property, and at least a small retirement or savings account. A will lets you decide whether those assets go to parents, siblings, a partner, or a charity. It also lets you pick a trusted person to handle paperwork rather than leaving your family to sort it out while they grieve.
Why a will is still useful even with a trust
Some people already have a living trust and wonder if they still need a will. In most cases, they do. A simple “pour over” will catches assets that never made it into the trust and directs them there at death. It also backs up your guardian nominations for minor children. In that way, your will and your trust work together.
Getting help and taking the next step
National consumer materials from the American Bar Association note that a will lets you control what happens to your property and your children instead of leaving those decisions to a one size fits all law. Their guidance stresses that a valid will must meet specific legal rules to hold up in court. In practice, that means you should get advice from a team that understands Arizona, Minnesota, and Wisconsin law.
At Metropolitan Law Group, we help you answer who should have a will in the context of your real life. We review your assets, your family, and your goals, then suggest a will centered plan or a combined will and trust approach.
You can book a complimentary 15-minute Discovery Call with a knowledgeable staff member to talk through your questions. Experienced team members, not attorneys, handle these calls, so you can decide whether a full planning meeting is the right next step.
To schedule your Discovery Call, visit our contact page or call our national number at 866-902-6148. You can also reach our Arizona office at 480-409-8200 or our Minnesota and Wisconsin office at 612-524-9414. Putting a will in place now gives you control and gives your loved ones clear direction when they will need it most.
