January 13, 2025

How Do I Know When it’s Time for a Will?

There is no right answer as to when you should meet with an estate planning attorney to get your affairs in order. Every person’s career, family, and assets are different, making each person’s estate plan uniquely tailored for them. 

What is a Last Will and Testament?

A Last Will and Testament is the formal name for what we commonly know as a “will”. A will is a legal document that describes how your assets and property are to be distributed after you die. A will can also assign guardians for any children and/or pets you have.1 Any person in the state of Ohio can make a will as long as they are at least 18, of sound mind and memory, and do so willingly.2  Upon your death, your will gets admitted to the probate court in the county you lived in at your death and gets “probated”. This is a fancy way of saying that your assets get distributed to the right people (either the beneficiaries named in your will or your next of kin under Ohio law). 

How Do I Know That I Need a Will?

Easy: Everyone over the age of 18 most likely does. 

  1. If you don’t decide who gets your assets, the law will. 

No matter your age, health, family status, or wealth, having a will ensures that upon your death, your assets will go to the people you want them to. Without a will, the Ohio statute of descent and distribution will decide the fate of your assets. The probate court will order that your assets are distributed to your descendants at law. This could be a problem if your family, like most every other family on earth, has complicated and/or strained relationships.

In Ohio, your spouse and your children are your next of kin and would inherit your assets after your estate pays off any and all of your debts. If you are single and without children, your parents and/or siblings (as applicable) will be next in line to inherit your assets. So on, and so forth. If you have a family member, such as a parent, sibling, grandparent, etc. that you do not want to inherit your assets, there is a likely chance that without a will, they can inherit (or file a challenge with the probate court that says they should inherit) their share of your assets.3 

A will states in clear writing who you want to receive the things you own upon your death. Not only can you name specific people to inherit your things, but you can also disinherit people you don’t want to receive anything. So, if you’re single and don’t have children, you can make sure the family member that you can’t stand gets nothing. And the best part? They never have to know. Even if someone who has been disinherited challenges your will in court, the likelihood of them getting anything is pretty low. 

  1. You have assets. 

So many people I know have the mindset, “Oh, I don’t need a will. I don’t even own anything.” Although you might think you don’t have assets, you most likely have more than you think. Common assets include, but are not limited to:

  • Checking account(s);
  • Savings account(s);
  • Investment account(s);
  • Stocks/bonds;
  • Retirement account(s) (401k, IRA, etc);
  • Life insurance;
  • House and other real property;
  • Any titled vehicle (car, boat, motorcycle, tractor, etc.);
  • Business interest anything owned by the business (LLC, Corporation, etc.);
  • Jewelry;
  • Collections;
  • And yes, your PETS!
  1. You have dependents. 

The average person tends to associate needing a will with being old. This is simply WRONG! Although as you age, your likelihood of dying becomes higher than when you were younger, this does not mean that only “old people” need a will. If you have children, whether biological and/or adopted, you can nominate a guardian in your will to care for your children if you were to pass away while they are minor.4

Additionally, if you are a step-parent, your step-children are not legally entitled to any of your assets per the statute. A will can help you distribute your assets to your step-children and tell the probate court that you want them to be treated as if they were your biological children. 

  1. Your life circumstances have changed. 

Maybe you already have a will. But since executing that will, you have got a divorce, separated from a partner, got married, had a baby, had a grandbaby, adopted a new pet, bought a new house, hit the lottery, etc., etc. Life happens and things change. A will is revocable and amendable until the day of your death. This means you can update or revoke any prior will you may already have and replace it with a more current version. 

Think it’s time for a will? Fill out the form on the Contact page and reach out to Mackenzie Murphy’s Law. We are here to help!

  1. CDC Foundation, What is a Will?, https://www.cdcfoundation.org/give/will
  2. Ohio Revised Code §2107.02.
  3. Ohio Revised Code §2105.06.
  4. Ohio Revised Code §2111.121.
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