By Jacob M. Fabian, Esquire
Estate Planning Attorney

Pop culture often portrays wills in exaggerated and dramatic ways. From comedy films like Brewster’s Millions (1985) or The Grand Budapest Hotel (2014) to mysteries like Knives Out (2019), we are accustomed to seeing wills in the context of multi-million dollar estates. Examples like these have popularized the myth that only wealthy people need a Will.

According to the Caring.com 2024 Wills and Estate Planning Study, 68% of Americans do not have any estate planning documents. Among those who have no estate plan, 40% believe they are not wealthy enough to write a will. For those keeping track of the math at home, this means that roughly 27% of Americans have no estate plan because they don’t have significant assets. While wealth distribution is a key function of a will, it’s not the only one, so a lack of wealth shouldn’t deter you from creating an estate plan. The overall purpose of a will is to ensure that your wishes are carried out after your death. So, if you have wishes, you have a reason to write a will.

Specifically, a will allows you to express your wishes regarding the “who, what, when, and how” of handling your affairs. Writing a will allows you to specify who will receive what, and it also allows you to control when and how your beneficiaries will receive those possessions. For example, if you have a family member with a disability, or a minor child, it may make sense to leave them a gift in trust instead of leaving assets to them outright. A will also allows you to choose who will be your executor, the person in charge of administering your affairs. You can find some tips for choosing your executor here. Picking the right person to administer your estate reduces confusion and family conflicts after your death. Thus, even with a modest amount of assets, a will is the bare necessity to ensure that your loved ones know your wishes and can carry them out effectively.

Dying without a will (also known as dying “intestate”) means that state law will control who receives your property, and state law will determine who administers the estate. In some cases, state law might mirror your wishes, but frequently, it will not. It is quite common for a married person to wish that their spouse receives 100% of their possessions. However, in Pennsylvania, the surviving spouse only receives 100% of the deceased spouse’s property if the deceased spouse has no children and the deceased spouse’s parents are also deceased. Dying intestate also means that you can’t control how an inheritance will be distributed, as an intestate estate is usually distributed outright to your heirs. Lastly, the laws for determining who will administer your estate do not specify, for example, which of your children should be your personal representative. Administering an estate can be challenging enough without potential disputes among heirs over this responsibility.

Everyone has enough assets to create a will. However, wills are just the start of the estate planning conversation. A basic will may not address issues like healthcare decisions, guardianship for minors, asset protection, or incapacity planning. At the Estate Planning Centers, we are skilled listeners who will help you identify these issues and find the right combination of additional documents—such as Powers of Attorney, Living Wills, or Trusts—to tailor a comprehensive estate plan for you and your family. For more information or to book a consultation directly, please contact us at (412) 253-7526 or visit us online at www.estateplanningcenters.com.