Your Assessment Result

A Basic Will Is a Smart First Step

You're in a relatively simple situation right now, and that's good news. It means getting your estate planning started is straightforward and affordable. Most people in your position can get this done in an afternoon.

Your Situation

Even without a house, kids, or significant wealth, a will does something important: it puts you in control of what happens to your assets and your affairs. Without one, your state's intestacy laws make those decisions for you, and the defaults may not be what you'd choose [1].

A common misconception is that estate planning is only for older people or wealthy families. In reality, anyone over 18 with any assets, accounts, or preferences about their medical care benefits from having basic documents in place [2].

Disclaimer: This is educational information, not legal advice. Every situation is unique. Consult with a qualified estate planning attorney before making decisions.

Your Recommended Next Steps

1

Get a Basic Will

A will doesn't need to be complicated. At its simplest, it answers three questions: who gets your things, who handles your affairs after you're gone (your executor), and are there any specific wishes you want honored? For a straightforward situation like yours, an online legal service ($100–$300) is a reasonable starting point [3].

2

Name an Executor

This is the person responsible for carrying out the instructions in your will: paying final bills, distributing assets, filing paperwork. Choose someone you trust who's organized and willing to take this on [3]. Most people name a spouse, sibling, or close friend.

3

Consider a Power of Attorney

This isn't urgent at your stage, but it's worth having. A financial power of attorney lets someone manage your finances if you're ever incapacitated: access your bank accounts, pay your rent, handle your insurance [4]. Without one, someone would need to petition a court to help you.

4

Revisit as Life Changes

Estate planning isn't one-and-done. Getting married, having children, buying a home, receiving an inheritance: any of these means it's time to update your plan [2]. Think of today's will as version 1.0.

What You Don't Need Right Now

You don't need a trust, a complex estate plan, or an expensive attorney consultation. Your situation is simple enough that a basic will handles it. As your life gets more complex, your estate plan can grow with it.

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Sources

[1] "Intestate Succession" — Cornell Law Institute (LII) · law.cornell.edu/wex/intestate_succession
[2] "Estate Planning Info & FAQs" — American Bar Association · americanbar.org/groups/real_property_trust_estate/resources/estate-planning/
[3] "Will" — Cornell Law Institute (LII) · law.cornell.edu/wex/will
[4] "Power of Attorney" — Cornell Law Institute (LII) · law.cornell.edu/wex/power_of_attorney
Last reviewed: February 2026

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