Why Every Family Needs a Will (Even If You’re Not Wealthy)
Most people assume that wills are only necessary if you're rich, own multiple properties, or have a sprawling investment portfolio. But the truth is, every adult with loved ones or assets should have a will, no matter their net worth.
Creating a will isn’t about how much you have—it’s about what happens to what you do have, and more importantly, who is impacted when you're gone. Without a clear legal plan, your family could face unnecessary stress, legal battles, and financial hardship during one of the most difficult times in their lives.
In this guide, we’ll explore the importance of having a will, what happens if you don’t have one, and how to create one that reflects your wishes and protects your family.
What Is a Will?
A will (also called a last will and testament) is a legal document that outlines how your property, assets, and dependents should be handled after your death. It allows you to:
Appoint a guardian for your children
Name an executor to carry out your wishes
Decide who receives your belongings
Prevent family disputes
Leave instructions for final arrangements
Think of it as your voice when you’re no longer here—a way to make sure your loved ones are taken care of and your values are respected.
What Happens If You Die Without a Will?
When someone dies without a will, they are said to die intestate. In this case, the state takes over and distributes your assets according to local laws—not necessarily in the way you would have wanted.
Here’s what could happen:
A court decides who gets your property, even if it’s not who you’d choose
Guardianship of your minor children may go to someone you wouldn’t have selected
Your loved ones could face legal costs and delays
Family disputes or confusion can lead to broken relationships
Dying without a will doesn’t just create stress—it often creates mess. And unfortunately, the people left to clean it up are the ones you care about most.
“I Don’t Have Much. Do I Still Need a Will?”
Yes. Even if you don’t have significant assets, your will is still crucial. Here's why:
1. You likely have more than you think.
Even modest savings, retirement accounts, a vehicle, or personal belongings matter—especially if there's sentimental or practical value involved.
2. You may need to name guardians for minor children.
Without a will, the court makes this decision without your input.
3. You need someone to manage your estate.
Appointing an executor gives someone you trust the authority to handle affairs—paying bills, closing accounts, and distributing property.
4. Final wishes matter.
From funeral arrangements to charitable giving, a will ensures your voice is heard and respected after you're gone.
Key Elements of a Basic Will
You don’t need to be an attorney or millionaire to put together a clear, effective will. Here are the key components:
Personal Information (name, date of birth, residence)
Executor (the person who manages your estate)
Beneficiaries (the people or organizations who will receive your property)
Guardianship (for minor children or dependents)
Asset Distribution (what goes to whom)
Debts and Taxes (instructions on how to handle them)
Funeral Instructions (optional, but helpful)
Signature and Witnesses (to make it legally valid)
A will doesn’t need to be complicated—it just needs to be clear and legally enforceable.
When Should You Create or Update a Will?
Creating a will is important at any age, but certain life events should always trigger a review or update:
Marriage or divorce
Birth or adoption of a child
Buying a home or major asset
Starting a business
Inheriting wealth
Major financial changes
Death of a spouse, guardian, or executor
Every 3–5 years for regular review
A will isn’t a “set it and forget it” document—it should evolve as your life does.
DIY vs. Professional Help
You can draft a basic will using online tools or templates, especially if your financial situation is simple. However, if you:
Own a business
Have significant or complex assets
Have a blended family
Want to minimize estate taxes
Need a trust or medical directives
...it’s worth consulting with an estate attorney to ensure your plan is thorough and legally sound.
Common Myths About Wills (And the Truth)
❌ Myth: “I’m too young to need a will.”
✅ Truth: Tragedy doesn’t check your age. Young adults with children, property, or digital assets need a plan.
❌ Myth: “My family will know what to do.”
✅ Truth: Verbal instructions aren’t legally binding. Without a written will, your family has no legal authority.
❌ Myth: “I can make a will later when I have more.”
✅ Truth: The best time to make a will is before you think you need one. You can always update it later.
How SNMC Supports Family Financial Security
At Security National Mortgage Company, we believe protecting your legacy is just as important as building your wealth. Your home is more than an investment—it’s part of the life you’re building and the future you’re securing for your loved ones.
Our role is to:
Help you understand how homeownership fits into estate planning
Support you with tools, resources, and education for long-term protection
Encourage proactive planning for life’s “what-ifs”
We don’t just help you secure a mortgage—we help you secure a future.
Final Thoughts
Creating a will is one of the most thoughtful, empowering, and protective things you can do for your family. It’s not about wealth—it’s about clarity, responsibility, and love.
Your will gives you the final say. It protects your children, honors your values, and relieves your loved ones of legal stress during a painful time.
And the best part? You can start today.
