What’s the best way to protect what matters most after you’re gone? Put it in writing by creating a will. This basic but powerful legal document lets you have a voice in how your assets are shared, who will care for those who depend on you, and what kind of legacy you leave behind.

If you’ve been putting off making a will, you’re not alone—only 31% of Americans have one¹. “People don’t want to talk about a will for emotional reasons,” certified financial planner Mary Clements Evans told CNBC Select. “They don’t want to think about their death or their spouse’s death.”

But once you understand what’s involved with making a will, it’s easier to get started. By thinking through these ten key questions before you start, you'll make the will preparation process smoother for yourself now—and much easier for the people you care about later on.

What are the most important things to consider when making a will?

1. Who do I want to name as guardians for my dependents?

If you have minor children, naming a guardian in your will is one of the most critical decisions you’ll ever make. This person will be responsible for their care and well-being until they reach adulthood and beyond. You should also name a back-up guardian in the event the primary guardian passes away or is unable to take on this role for another reason.

You can also name a guardian for an adult dependent with special needs, ensuring they receive the right support and oversight (and the funding to enable it). And don’t forget about pets! Many people include instructions or name a person to care for their beloved animals when they’re no longer able to.

✅ Tip: When choosing a guardian, think beyond your children’s current ages and consider how your choice will hold up as they grow. For example, grandparents may be ideal guardians for young kids, but an aunt or uncle might be better suited once the children are older. Planning for different life stages helps ensure your will stays practical over time.

2. What are my assets and property?

Start by making a detailed list of everything you own that has value. Your assets may include:

• Real estate or other property such as your home, land, or vacation residence
• Cryptocurrency (e.g., Bitcoin, Dogecoin)
• Cash and financial accounts including checking, savings, and investment and retirement accounts
• Investments and business interests such as stocks, bonds, or ownership in a company
• Intellectual property like patents, copyrights, or royalties
• Personal valuables including jewelry, collectibles, artwork, cars, or family heirlooms

Having a detailed and accurate inventory of your assets ensures your property is distributed fairly and according to your exact wishes.

✅ Tip: Keep in mind that some accounts—like 401(k)s or IRAs—have their own beneficiary rules. In nearly all cases, your will won’t override those rules, so it’s important to keep both up to date.

3. What are my debts? How will they be paid?

If you're one of the 55% of Americans who expect to pass on between $5,000 and $20,000 of debt to loved ones after they die², you’ll need to have a plan for how it’s paid off.

Common debts people leave behind when they pass away include a mortgage, car loan, credit card balance, and medical bills. Typically, these debts are paid from your estate before any assets are handed out to beneficiaries. The amount of debt obligation can vary depending on your state’s laws and whether a loan had any cosigners (e.g., your spouse).

Listing your debts clearly in your will can help your executor—the person responsible for handling your estate—settle any outstanding obligations efficiently. It also prevents surprises or confusion for your family.

4. Who do I want to inherit my assets?

Think carefully about who should receive your assets—your property, personal belongings, savings, and investments. You can leave specific items or percentages of your estate to different people or organizations. Most people name family members as beneficiaries, like a spouse or children, but that’s not set in stone. If you wish, your will can also include close friends, caregivers, household caretakers, and even charities you care deeply about.

Here are some things to think about when naming beneficiaries:

• Consider what happens if a beneficiary passes away before you do. For instance, if you leave something to a close friend who dies first, that asset could go to their estate unless you’ve named an alternate beneficiary. Listing backups helps avoid confusion and ensures your wishes are followed.
• If you have a blended family or complex relationships, it’s especially important to be specific about who gets what when preparing your will. Crystal-clear instructions can help eliminate misunderstandings and disputes later.
• Your will should make sense both now and years down the road. You might not plan to leave your home to a 9-year-old today—but in 15 years, that child will be an adult. Review and update your will over time to make sure it still reflects your intentions as your loved ones age.

5. Do I want to give to any charities?

Many people choose to include charitable giving in their will as a way to leave a lasting positive impact (these are often called “planned gifts” or “legacy gifts”). You can name a charity as a beneficiary and decide how you want to support that organization—whether it’s through a lump sum, a specific asset, or a percentage of your estate. Giving through your will allows you to continue supporting the causes that matter to you after you’re gone.

Be sure to include the organization’s full legal name and address in your will so your gift is directed correctly. You’ll also need its Employer Identification Number (EIN). It's a smart idea to contact the charity ahead of time to ensure the information you have is accurate. Don't let a simple mistake cause your wishes to go unfulfilled.

6. Who will handle my digital assets?

Don’t forget digital assets when doing your estate planning—for example, things like social media accounts, email accounts, and cloud-stored files, photos, and videos. These are often overlooked but can be important sentimentally.

What happens to your digital assets after you pass away will be driven by the specific policies of the organizations hosting them. Think about who you want to manage these assets—you can name this person as a “digital executor” in your will. In order to give them access to your accounts, you will likely need to provide username/password information. Keep that sensitive information in a separate, secure document or digital filing cabinet, and make sure that person knows where to find it.

7. Who will my will’s executor be?

Your executor (sometimes called a “personal representative”) is the person who will manage your estate after you pass away. Their responsibilities include paying debts, handling paperwork, and distributing your assets according to the instructions in your will.

Choose someone you trust who communicates well and can responsibly manage the financial, legal, and personal duties involved in settling your estate. Some people opt for a close relative or friend. Others hire a professional, such as a lawyer or financial advisor, to ensure everything is handled smoothly. You can also name a co-executor to share responsibilities, as well as an alternate in case your primary choice is unable (or unwilling) to take on the role.

8. How do I change my will?

Major events like a divorce or the birth of a grandchild are good reasons to review and update your plan. Even if nothing big has changed, it’s wise to look over your will every few years to be sure it still aligns with your wishes.

To change your will, you generally have two options:

• Create a codicil: This is a short legal document that makes specific updates to your existing will, such as adding or removing beneficiaries. It must be signed and witnessed just like your original will. A codicil is suitable if you have only a few minor changes to make.
• Write a new will: In most cases, creating a new will from scratch is easier and less confusing than a codicil. This is especially true if you want to make a number of changes or your life circumstances have drastically changed.

Once it’s updated, be sure to destroy old copies of your will. Let your executor and family know where to find the new version.

9. What documents do I need to make a will?

Gathering your paperwork ahead of time will make the process go much faster. You’ll need:

• Identification documents (like your driver’s license or Social Security number)
• Property deeds, bank and investment account statements
• Retirement account details
• Life insurance policies
• Records of debts or loans
• Personal information for all beneficiaries (full names, addresses, and relationships to you)

Having all this information handy—whether you plan to use an attorney or an online will making service—will help ensure your will is thorough and accurate.

10. Do I need a lawyer to make a will?

Not always. For straightforward estates—such as when you have a small number of assets, few beneficiaries, and no complicated family situations—an online or do-it-yourself (DIY) will-making service may be sufficient. These tools can guide you through the will creation and estate planning process step by step and tend to be more affordable than hiring a professional.

But if you have multiple properties, a business, a blended family, or tax concerns, it’s a smart idea to talk to a lawyer. An experienced estate planning attorney can help you steer clear of pitfalls that might cause problems later. They can also make sure your will meets all state legal requirements.

Pulling it all together

Answering these ten questions will give you a strong start in creating a will that reflects your values and wishes. Note that your will isn’t set in stone—you can (and should) refresh it whenever your life circumstances change. Major events like marriage, divorce, a new grandchild, or buying a retirement retreat are all good reasons to give your plan another glance.

“Creating a will provides clarity and peace of mind—it’s the foundation on which your estate plan is built,” said Josh Hodges, NCOA's Chief Customer Officer. “This simple legal tool makes things much easier for your family when they’re under a lot of stress and ensures your assets are transferred just as you intended.”

Whether you use an online will preparation service or work with a lawyer, the most important thing is to start the estate planning process as soon as possible. Taking the time to plan and document your wishes now means the people you love will have clear, thoughtful guidance when they need it most.

Sources

1. Trust & Will. Who Has an Estate Plan? A Demographic Breakdown (2025). Found on the internet at https://trustandwill.com/learn/2025-report-estate-planning-demographic-breakdown

2. Debt.com. Death and Debt Survey: 55% Expect to Pass Their Debt to Loved Ones. September 17, 2025.