Do I need a will if I’m_______? We will go through and dissect the most common situations you fill in that question. Yet, the only real answer to anything you may fit in there is a resounding, yes. Yes, you do need a will. If you are searching the internet asking, “Do I need a will?” The answer is, “Yes!”
Do I need a will if I am single?
If you are single, you still need a will. Without a spouse and without children, you may think that somehow you don’t need a will. It is the opposite. If you have property, there are horror stories of courts attempting to properly allot your property sans heirs. Think about where you want your property to go. Is it a charity? A niece or nephew? Avoid the loss of possibly hundreds of thousands of your dollars in the decision process by making it up front.
Do I need a will if we have no children?
See the answer to the above question. Of course you need a will. However, look at your lovely spouse sitting next to you. You will want to make sure that you both are protected if the worst happens. Do you own a home? Does it have an encumbrance? Do you have retirement or trust accounts? You will, most certainly, want to visit an attorney that specializes in wills and trusts when you get married, if not sooner, to make some serious decisions. Additionally, you can protect a long term partner even if you are not married.
Do I need a will if I have no assets?
Of course, like the other answers, the answer to this question is yes. Even though you my believe you have nothing of value to pass on, because you have lived a rich life, you have much more than you think. Spending some time with a lawyer trained in wills may prevent a contest when your heirs find what they believe are valuables.
The bottom line is that you need a will. Do not even consider the idea that you do not. Even if you are single, even if you are without a child, even if you believe you have no assets, even if….Do not die intestate. You need a will!