A will is not a luxury item reserved for people with large estates. It is the legal document that says who gets your car, your pet, your bank balance, and your parental rights over minor children if you die, and you can create one without hiring a lawyer or spending much money at all. Even a modest estate benefits from clear, written instructions.
According to Caring.com's 2025 wills survey, 76 percent of Americans do not currently have a will, and the most common reason is not cost. It is procrastination and the mistaken belief that a will is only for people with significant assets.
Start your will online with FastWill and you can finish it in one sitting, on a schedule and budget that works for you.
Why a Will Matters Even on a Tight Budget
Here are the core reasons a will matters, regardless of your bank balance.
It Protects the Things You Actually Own
You might think you do not have "real" assets, but a car, a laptop, a record collection, or a grandparent's medal are all property that has to go somewhere when you die. Without a will, a court-appointed executor decides, and that person has no obligation to honor an unwritten wish about who gets what.
It Names a Guardian for Minor Children
If you have children under 18, a will is where you name a guardian. Many people assume the surviving parent automatically takes over, and that is often true, but a will still matters if both parents die, or if the other parent later becomes unable to serve. Naming a guardian, and a backup guardian, keeps that decision with you instead of a judge who has never met your family.
It Keeps You Out of a Slower Probate Process
Dying without a valid will is called dying intestate. According to Cornell Law School's Legal Information Institute, state intestacy statutes then decide who inherits, typically prioritizing a spouse and children, then other relatives, with property escheating to the state only if no relatives can be found. A valid will does not let you skip probate entirely, but a court can move faster once it recognizes an executor you named, instead of waiting to appoint one from scratch.
It Lets You Provide for Pets
Most households have a cat or dog. Without instructions in a will, there is no legal mechanism forcing anyone to take your pet in, and shelters do end up with animals whose owners died without saying who should take custody.
How to Write a Will on a Tight Budget, Step by Step
- List your assets, however modest. Bank accounts, a car, a video game collection, and a cryptocurrency wallet all count. Do not skip an item because it seems small.
- Identify your beneficiaries. Decide who should receive each asset, and name an alternate beneficiary in case your first choice does not survive you.
- Choose an executor. Pick one trustworthy person to carry out your instructions, plus a backup. Avoid naming co-executors, since shared authority tends to create conflict rather than reduce it.
- Name a guardian if you have minor children. Talk to that person first so they know what you are asking of them.
- Use an online will platform instead of a full-service attorney. For a simple estate without complex tax issues or blended-family disputes, an online service like FastWill can produce a will that meets your state's legal formalities without the cost of hourly attorney fees.
- Sign it correctly. Nearly every state requires your signature plus two witnesses; some also allow or require notarization for a self-proving affidavit. Skipping this step is the single most common way a low-cost will gets thrown out.
- Store it somewhere findable. Tell your executor and at least one family member where the original is kept.
Common Mistakes People Make When Writing a Will on a Budget
- Skipping the will entirely because they assume they "don't have enough" to justify it.
- Leaving out digital assets like cryptocurrency, photos, or social media accounts because they do not feel like "real" property.
- Forgetting to name an alternate beneficiary or alternate guardian.
- Writing an informal note instead of a properly witnessed document, which many states will not honor.
How FastWill Helps
FastWill's online platform walks you through each of the steps above and produces a will built to your state's requirements, without attorney billing rates. If your situation grows more complex later, such as a blended family or a small business, you can also look at our general guide to writing your own will or explore a trust package for assets you want to keep out of probate. See our full plans and pricing to find the option that fits your situation.
Frequently Asked Questions
Do I need a lawyer to write a valid will?
No. Most states allow you to draft your own will, and an online platform can guide you through your state's specific signing and witnessing requirements. A lawyer becomes more useful for complex estates, business ownership, or contentious family situations.
What if I do not own a home or have much savings?
You still likely own a car, personal belongings, bank accounts, and possibly digital assets. A will lets you direct all of it, and it is also where you name a guardian for minor children, which has nothing to do with the size of your estate.
How much does it cost to write a will online?
Online will services typically charge far less than hiring an attorney for a simple estate, and some employer benefits or legal plans cover part of the cost. Check our pricing page for current options.
What happens if I die without a will?
Your state's intestacy law decides who inherits, usually starting with a spouse and children, based on a fixed formula rather than your personal wishes. The process typically takes longer because the court has to appoint an executor from scratch.
Can I update my will later without starting over?
Yes. Most changes can be made with a codicil, a short written amendment, or by creating a new will that revokes the old one. FastWill lets you update your documents any time your circumstances change.
