2. Who Needs a Will? Spoiler Alert: Everyone.

A Will is a legal document that provides for the disposition of your property after your death and is often the most important estate planning tool. It outlines your wishes for asset distribution, guardianship of minor children, and more. However, according to a recent Gallup poll, only 46% of adults in the United States have a valid Will. That means out of the 258.3 million adults over the age of 18, there are 139.5 million who need a Will but do not have one.

Why Should You Have a Will?

Every adult should have a Will to ensure that their estate is managed according to their wishes. A well-crafted Will provides clarity, control, and efficiency. A valid Will with a named independent executor can help speed up the probate process, reduce legal costs, and ease burdens on your family.

Having a Will ensures your assets are distributed as you intend. Otherwise, state intestacy laws determine who gets what. For example, Tennessee law provides the following:

• If you have a spouse and children, the spouse receives either one-third of the estate or a child’s share, whichever is greater.

• If there is no spouse, the children inherit equally.

• If there is no spouse or children, the parents inherit the estate.

• If no parents survive, the estate goes to siblings, then to other relatives such as grandparents, aunts, uncles, and cousins.

• If no relatives qualify, the estate may escheat to the state.

While you do not need to memorize these rules, it is important to know that without a Will, the state—not you—decides who inherits your estate.

What a Will Can Do for You and Your Loved Ones

A Will can help reduce family conflicts. Without one, relatives may guess or argue about your wishes. A Will removes uncertainty and prevents unnecessary stress.

It allows you to choose who will manage your estate. This person is called the Executor. If you do not name an Executor, the court will choose one for you.

You also get to name your beneficiaries. You can choose anyone: family, friends, charities, or organizations. You may also name backup beneficiaries or exclude individuals entirely.

For parents, a Will is essential to name guardians for minor children. Without one, the court will appoint a guardian, possibly someone you would not have chosen.

You can also use your Will to:

• Arrange for the care of pets by naming a trusted caretaker

• Designate someone to manage your digital assets like social media and online accounts

• Leave gifts to charities and causes you support

• Provide guidance for your funeral and final arrangements

• Create a life estate or trust for specific asset management

Even if you have limited assets, naming an Executor can be crucial. Financial institutions, government agencies, and digital platforms often require a court-appointed representative before they will release or manage accounts.

Legal Aspects

A Will must be in writing, signed by the testator, and witnessed by at least two competent individuals who are not beneficiaries. The testator must declare the document as their Last Will and Testament in front of those witnesses, who also sign. Each Will should be dated, in case multiple versions exist.

Update your Will when life changes—births, deaths, divorce, marriage, or financial shifts. You can update your Will at any time, as long as you remain mentally competent and free from outside influence.

Even if your assets are held in a trust or other non-probate form, a Will remains a good safety net. For example, an insurance settlement paid after a wrongful death could go to your estate. A Will ensures those funds are properly distributed.

What Happens Without a Will?

Dying intestate means the court must determine your heirs before appointing someone to handle your estate. This legal process, called “determination of heirship,” can be time-consuming and costly.

Without a Will, the court also picks your administrator and decides who will care for your children. Your estate is distributed according to state law, which may not reflect your wishes.

Some assume that their assets will automatically go to the right people. That is not always true, and the lack of a Will can lead to confusion, conflict, and unnecessary legal expenses.

Final Thoughts

Having a Will is not only about protecting your assets. It is about protecting your family, your values, and your legacy. A thoughtfully prepared Will empowers you to make meaningful decisions in advance, ensuring that your intentions are known and respected. It allows your voice to be heard, even after you are gone—and that is a responsibility and a right every individual should embrace.

Want to learn more? Tune into episode 2 of Bar Essentials, where we dig deeper into these topics with real-world stories, legal breakdowns, and practical tips. Click here to listen.