Only 1 in 4 Americans Have a Will: In 2025, only 1 in 4 Americans have a will, according to the latest Wills and Estate Planning Study by Caring.com. That’s a sharp drop from 33% in 2022, highlighting a troubling trend in personal financial planning. Despite increased awareness during the pandemic, a staggering 76% of U.S. adults still don’t have this essential legal document. Whether you’re a young adult just starting your career or a retiree with substantial assets, having a will is a critical part of securing your legacy and protecting your loved ones. And yet, many delay it—often until it’s too late.
Only 1 in 4 Americans Have a Will
If you’re among the 76% of Americans without a will, there’s no better time than now to create one. It’s not just about wealth—it’s about responsibility, love, and ensuring your family is cared for. Taking this step today protects your legacy and gives peace of mind to those you care about most.
| Topic | Details |
|---|---|
| Americans with a Will (2025) | Only 24% |
| Main Reason for Not Having One | 43% say they “just haven’t gotten around to it” |
| Parents Without Wills | Especially high among those with children under 18 |
| Impact of COVID-19 | Increased awareness, but action still lags |
| What Happens Without a Will | Assets are distributed based on state laws |
| Official Source | Caring.com Survey |
Only 1 in 4 Americans Have a Will: 3 Critical Reasons Why You Can’t Afford to Wait
1. Ensure Your Wishes Are Honored
Without a will, the state decides who gets what. If you have specific wishes—such as leaving money to a stepchild, unmarried partner, or a charity—they may be ignored completely. In most states, intestate succession laws distribute your assets to your next of kin, even if that’s not what you would have wanted.
Example: If you’re unmarried but living with a partner, they may receive nothing unless you’ve made legal arrangements.
2. Protect Your Family from Unnecessary Stress and Conflict
A legally valid will provides clear instructions. This eliminates guesswork and prevents family disputes. If you die without a will, your loved ones could face lengthy court proceedings, infighting, and unexpected financial burdens.
Example: Naming a guardian for your minor children ensures they are raised by someone you trust, rather than a court making the decision.
3. Avoid Lengthy and Costly Probate Delays
Probate is the legal process of settling your estate. Without a will, the court appoints an administrator, and this process can take months—or even years—while your family waits to access your assets. A properly drafted will streamlines this process, saving your beneficiaries time and money.
The Hidden Cost of Not Having a Will
A 2024 Gallup survey found that almost 50% of Americans aged 30-49 don’t have a will, despite often having dependents and mortgages. The lack of preparation creates financial risks:
- Frozen bank accounts
- Delayed life insurance payouts
- Confusion about ownership of property
- Legal costs that erode the value of the estate
How to Create a Will: Step-by-Step Guide
Creating a will doesn’t have to be expensive or complicated. Follow these steps:
Step 1: Make a List of Your Assets and Debts
Include real estate, bank accounts, retirement funds, vehicles, jewelry, art, and digital assets (like crypto wallets or online businesses). Also, list your liabilities such as loans or credit card debt.
Step 2: Identify Your Beneficiaries
Decide who will receive what. Be specific—use full legal names and relationships. Consider alternate beneficiaries in case someone passes away before you.
Step 3: Appoint an Executor
This person will carry out the terms of your will. Choose someone responsible and trustworthy. You can also name a professional executor, such as an attorney or bank.
Step 4: Choose a Guardian for Minor Children
If applicable, name a guardian for your children and a trustee to manage their inheritance until they’re of legal age.
Step 5: Draft the Will
You can use online services like FreeWill or software like Quicken WillMaker, or consult with an estate attorney for more complex situations (e.g., blended families, multiple properties, or special-needs children).
Step 6: Sign and Witness the Document
Most states require two witnesses who are not beneficiaries. Some also allow notarization for additional legal weight.
Step 7: Store It Securely and Share It
Keep your will in a safe but accessible place. Let your executor and close family members know where it is stored. Avoid locking it in a place where no one else can access it (like a private safe deposit box).
Additional Considerations
Living Will and Power of Attorney
A living will outlines your healthcare wishes if you’re incapacitated. A durable power of attorney allows someone to manage your financial affairs on your behalf. These are essential companions to a standard will.
Estate Taxes and Trusts
If your estate is large (currently over $13.61 million federally for individuals in 2024), estate taxes could apply. Consider setting up a revocable living trust to manage taxes and avoid probate.
Digital Estate Planning
Don’t forget digital assets—social media accounts, emails, cloud storage, and digital currencies. Include instructions and login credentials where appropriate.
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Frequently Asked Questions (FAQs)
Q: Can I write my own will without a lawyer?
Yes, you can use online platforms or write one by hand (called a holographic will in some states). However, to ensure it’s legally binding and error-free, legal guidance is recommended.
Q: How much does it cost to make a will?
Online tools cost between $0–$150. Hiring an estate planning attorney may cost $300–$1,200 depending on complexity.
Q: How often should I update my will?
Review your will every 3–5 years or after major life events: marriage, divorce, birth of a child, significant financial change.
Q: Is a will valid in every state?
Wills are generally valid across states, but differences in law may require updates if you move.
Q: What happens if my will is lost or destroyed?
If the original can’t be found, your estate may be treated as if no will existed.
