When you’re young, thinking about a will feels weird — almost like you’re jinxing yourself. You’re fresh out of college, landing that first job, maybe getting married, maybe just enjoying life solo. Estate planning? That’s something your parents and grandparents worry about, right?
Wrong.
If you have any assets at all — savings, a car, a laptop, or just a Netflix account someone might fight over — you should have a plan for it. No one likes talking about death, but here’s the thing: life is unpredictable. A will isn’t about expecting the worst; it’s about preparing responsibly. It’s one of the smartest, most grown-up things you can do for yourself and your loved ones.
Let’s break down everything you need to know about creating a will as a young adult — without getting overwhelmed, spending a fortune, or falling into legal traps.
Why Should a Young Adult Even Bother With a Will?
If you’re thinking, “I don’t own much, why would I need a will?” — you’re not alone. Most young adults assume wills are only for the rich and elderly. But that’s a huge misconception.
Here’s why you should have one:
1. You Actually Own More Than You Think
It’s not just about bank accounts or houses. Think about:
- Your car
- Jewelry or electronics
- Retirement accounts (yes, even that tiny 401(k))
- Life insurance policies
- Sentimental items like heirlooms, photo albums, your beloved guitar
- Digital assets — social media accounts, online banking, subscription services
When you put it all together, your “stuff” adds up. And if you don’t spell out who should get what, the state decides for you.
2. Protect Your Loved Ones From Legal Nightmares
Without a will, the court decides how your assets get divided. It’s a long, messy, expensive process called probate. Your family could end up spending months — or even years — fighting over your belongings.
Having a will makes things simple, clear, and stress-free for the people you love most.
3. Name a Guardian for Your Pets or Kids
If you have kids (or pets that are basically your kids), a will is the best place to name a guardian. Otherwise, the court will decide who takes care of them — and it might not be the person you would’ve picked.
4. It’s Peace of Mind, Plain and Simple
Honestly, the biggest reason to make a will is the peace of mind it gives you. You know that, if the unexpected happens, your wishes will be respected. That’s a powerful feeling.
Okay, You’ve Convinced Me. So How Do I Actually Create a Will?
Great question!
The good news is that creating a will doesn’t have to be expensive or complicated.
Here’s your simple, step-by-step guide:
Step 1: Make a List of What You Own
Before you can decide who gets what, you need to know what you have. Take a couple of hours to list:
- Bank accounts
- Retirement accounts
- Investments
- Vehicles
- Personal property (electronics, jewelry, art, furniture)
- Pets
- Digital assets (like domain names, crypto wallets, etc.)
Don’t worry about perfect accuracy. Just getting a general idea is enough to start.
Step 2: Decide Who Gets What
Next, think about your “beneficiaries” — the people (or charities) you want to receive your stuff.
Questions to ask yourself:
- Who should inherit your money?
- Who gets sentimental items?
- Who would you want to care for your pets?
- Do you want to donate to any causes you care about?
Being specific is super important. If you want your niece to get your vintage record collection, say so. Otherwise, family members might end up fighting over it.
Step 3: Choose an Executor
An executor is the person who makes sure your wishes are carried out. They’ll deal with banks, courts, and paperwork after you pass.
Pick someone you trust — someone organized and responsible. It could be a family member, close friend, or even an attorney.
Tip: Always ask the person first! You don’t want your best friend surprised with legal responsibilities she wasn’t ready for.
Step 4: Think About Guardianship
If you have minor children (or pets), your will should name a guardian. Think carefully about who would step in as a loving, stable caregiver.
Again, have a conversation with the person before officially naming them.
Step 5: Decide If You Want Help From a Lawyer
Now the big question:
Should you DIY your will or hire a lawyer?
DIY Options:
You can absolutely create a basic will yourself using online services like:
These platforms walk you through a simple process and generate a legally binding document for you.
Cost: Usually between $50–$150 for a basic will.
Lawyer Options:
If your situation is more complex (think: you have kids, multiple properties, a business, or complicated family dynamics), hiring a lawyer is worth it.
Cost:
- Basic wills: $300–$500
- Complex estate planning (trusts, tax planning, etc.): $1000+
It’s not cheap, but it’s a one-time expense for massive peace of mind.
Step 6: Make It Official
A will isn’t valid until it’s properly signed and witnessed according to your state’s laws. Usually, this means:
- Signing in front of two witnesses (who are not beneficiaries)
- Having a notarized “self-proving affidavit” if your state allows it (makes the probate process smoother)
Skip this step, and your will might not hold up in court later — which defeats the whole purpose!
Step 7: Store It Safely
After signing, store your will in a safe place:
- Fireproof home safe
- Safe deposit box at a bank
- With your attorney
Make sure your executor knows where to find it! A will locked away with no access helps no one.
Common Mistakes to Avoid When Creating Your Will
Even though the process is simple, a lot of people make mistakes that create huge headaches later. Here’s what not to do:
1. Not Updating Your Will
Life changes fast. Marriage, divorce, kids, new assets — all these things mean your will should be updated.
Set a reminder to review it once a year or after any big life event.
2. Assuming All Assets Are Covered by Your Will
Some assets, like retirement accounts and life insurance policies, aren’t controlled by your will. They go to whoever is listed as your beneficiary.
Always keep those designations up-to-date too!
3. Forgetting Digital Assets
More and more, people are fighting over digital legacies. Make a list of your accounts and instructions on what should happen to them.
Services like Google Inactive Account Manager can help you plan ahead for digital stuff.
4. Trying to “DIY” Complex Situations
If your family situation is complicated (multiple marriages, kids from different relationships, etc.), a DIY will might cause more harm than good. Hire a lawyer for peace of mind.
What Happens If You Die Without a Will?
If you pass away without a will (also called “dying intestate”), state law takes over. The government decides who inherits your stuff based on a rigid formula:
- Typically, it goes to your spouse first.
- If no spouse, then your kids.
- If no kids, then your parents.
- If no parents, then siblings.
And so on.
This can create massive stress and conflict, especially if you have estranged family members or special people in your life who wouldn’t otherwise inherit.
Moral of the story? Don’t leave it up to the courts.
Affordable Ways to Get a Will
You don’t have to break the bank to create a will. Here are some affordable options:
| Option | Best For | Approximate Cost |
|---|---|---|
| DIY Online Services (LegalZoom, Rocket Lawyer) | Simple wills for young adults | $50–$150 |
| Local Law Clinics or Legal Aid | Low-income individuals | Often free or sliding scale |
| Estate Planning Lawyers | Complex situations (kids, multiple properties, businesses) | $300–$1000+ |
| Employer Legal Benefits | Employees (check your HR perks) | Sometimes free or discounted |
Pro tip: Some life insurance policies even offer free will services — check if yours does!
How to Talk to a Lawyer About Your Will (Without Feeling Intimidated)
Lawyers can seem scary if you’ve never worked with one before. But good estate planning attorneys are there to help, not to judge.
When you call:
- Say, “I’d like help creating a basic will. Can you tell me how the process works?”
- Ask upfront about fees. Good lawyers are transparent about costs.
- Be ready to share details about your assets and family situation.
Remember: You’re the client. You get to ask questions, ask for clarification, and take your time.
Final Thoughts: Wills Aren’t About Death — They’re About Love
Creating a will isn’t about being morbid. It’s about protecting the people and things you love most. It’s about showing that you care enough to plan ahead and make their lives easier.
Think of it as the ultimate adulting move — right up there with filing taxes, buying insurance, and remembering to call your grandma on Sundays.
So go ahead. Take a few hours this weekend to get it done. Future You (and your loved ones) will thank you.
If you found this guide helpful, make sure to bookmark Your Pocket Matters! We break down important financial topics into easy, real-talk conversations — because your future deserves smart planning.
FAQ: Why Every Young Adult Needs a Will
To make things easier, we’ve put together some of the most frequently asked questions to help you navigate this important step with confidence.
I’m young, healthy, and just starting out—do I really need a will?
Yes! A will isn’t just for the wealthy or elderly. If you have any assets (even a bank account, car, or laptop) or if you want your money and belongings to go to specific people, a will ensures your wishes are legally respected.
What happens if I die without a will?
If you pass away without a will (also known as dying “intestate”), state laws decide who gets what. That often means your closest relatives inherit everything, whether or not that’s what you’d want. A will puts you in control.
How much does it cost to make a will?
Creating a simple will can cost as little as ₹1,000 to ₹5,000 online, or ₹10,000–₹20,000 if you go through a lawyer. The price goes up if you need tax planning or a trust, but for most young adults, a basic will is affordable.
Can I create a will online, or do I need a lawyer?
You can absolutely create a basic will online using reputable platforms like LegalZoom, Willful, or even local legal startups. But if you have a more complex situation (multiple assets, children, past marriages, etc.), a lawyer is highly recommended.
What should I include in my will?
At a minimum, your will should include:
1. Who gets your assets (money, property, belongings)
2. A guardian for your children (if you have any)
3. An executor (the person responsible for carrying out your will)
4. Any personal messages or legacy notes (totally optional, but meaningful)
Do I need to update my will?
Yes—any time you go through a major life change (marriage, divorce, new job, buying property, having a child), it’s smart to revisit your will. It’s not a “set it and forget it” document.
What’s the difference between a will and a living will?
A will dictates what happens after your death. A living will (also known as an advance directive) explains your medical preferences in case you’re alive but unable to communicate them. They serve very different purposes, and having both is ideal.
Do I need other documents too?
Good question! Alongside your will, it’s wise to have:
A power of attorney (someone to manage your finances if you’re incapacitated)
A healthcare proxy (someone to make medical decisions if you can’t)
A list of assets and account passwords (to help your executor handle things smoothly)
Can I name someone outside my family in my will?
Totally! Your will is your voice. You can leave assets to a friend, a mentor, a charity, or even your pet (through a pet trust). No judgments—just clear instructions.
Where should I store my will?
Keep the original in a safe, fireproof place—ideally with someone you trust. You can also leave a copy with your lawyer or store it digitally with secure legal services. Just make sure your executor knows where to find it.
Abhishek started Your Pocket Matters in 2025 to share his personal experiences with money—both the struggles and the successes. From facing significant losses in trading to turning things around and becoming financially independent, he’s learned valuable lessons along the way. Now, he’s here to help you take control of your finances with honest, practical advice—no scams, no gimmicks, just real strategies to build wealth and achieve financial freedom.
- Abhishek Sinhahttps://yourpocketmatters.com/author/abhisheksinha8884gmail-com
- Abhishek Sinhahttps://yourpocketmatters.com/author/abhisheksinha8884gmail-com
- Abhishek Sinhahttps://yourpocketmatters.com/author/abhisheksinha8884gmail-com
- Abhishek Sinhahttps://yourpocketmatters.com/author/abhisheksinha8884gmail-com
