Should you have a will drawn up even if you are young and healthy?

Question

Rich Dad · Accepted Answer

If you think wills are only for old people, you’re gambling with your legacy like it’s a scratch-off ticket.
Let me be blunt: a will isn’t about death — it’s about control. If you’re young and healthy, that’s exactly when you should set it up, because you’re building assets. Maybe it’s just $20,000 in savings, a car, crypto, or a small business. Maybe you have a side hustle pulling in $3,000 a month. Without a will, the government decides who gets what. Courts, probate, lawyers — they all take their slice first. In some states, probate can eat up 3–7% of your estate. That’s money you worked for going to paperwork.
Think of it like this: you wouldn’t build a rental property and leave the deed unsigned. Yet people build financial lives with no legal instructions. If you die intestate (without a will), your assets follow default state laws. Unmarried partner? They might get nothing. Business partner? Frozen accounts for months. I’ve seen small companies collapse because the owner died without a succession plan. A simple will costs $300–$1,500. Compare that to tens of thousands in legal chaos.
And here’s where entrepreneurs think differently: a will is step one. Step two is power of attorney and healthcare directives. What if you’re not dead — just incapacitated for six months? Car accident. Stroke. Suddenly someone needs authority to sign contracts or access accounts. I know a 32-year-old gym owner who ended up in a coma after a motorcycle crash. His business revenue dropped 60% because no one could legally act fast enough. Youth doesn’t eliminate risk — it just makes people overconfident.
Now, I’m not saying you need a $10 million trust structure at 25. That’s overkill. But a basic will is foundational. As you build wealth — rental properties, equities, startup shares — you upgrade the plan. The wealthy don’t wait until they’re sick to plan. They plan while they’re strong.
Could you delay it? Sure. Statistically, odds are in your favor if you’re healthy. But smart investors don’t bet on odds — they hedge. You insure your car. You insure your health. A will is insurance for your financial legacy.
You don’t create a will because you expect to die. You create one because you expect to build something worth protecting.
“Control your assets while you’re alive — or surrender them when you’re gone.”

Poor Dad · Answer

It’s better to have a seatbelt and never need it than to need it and not have one.
Yes, even if you are young and healthy, having a will is responsible. Life is unpredictable. Accidents happen every day to people in their 20s and 30s. While the statistical likelihood of dying young is low, the consequences of not planning can be devastating for your family. Without a will, your estate goes through probate, and state laws determine distribution. That can create delays of 6–12 months and emotional stress for loved ones who are already grieving.
Even if you think, “I don’t own much,” consider what you actually have. A car worth $15,000, $25,000 in savings, retirement accounts, personal belongings — it adds up. If you’re married or have children, this becomes even more important. A will allows you to name guardians for minor children. Without it, the court decides. That alone is reason enough for parents to act immediately.
The cost is modest compared to the peace of mind. A straightforward will prepared by an attorney might cost $500–$1,000. Online services are even less, though you should be careful about state-specific requirements. Think of it like maintaining health insurance or contributing to your pension — it’s part of being a responsible adult. You hope you never need it, but you’re relieved it’s there.
However, I will add a practical nuance: if you are single, have no children, minimal assets, and no complicated financial situation, you could reasonably delay a formal will for a short period. State intestacy laws often pass assets to parents or siblings in predictable ways. But once you accumulate assets, enter a long-term partnership, or start a family, it should become a priority.
Planning ahead reduces burdens on others. When someone passes without a will, family members may argue, incur legal fees, or face administrative headaches during an already painful time. Writing a will is not pessimistic — it is considerate.
You may be young and healthy today, but maturity means preparing for tomorrow. Stability comes from foresight, not from assuming everything will go well.
“Hope for a long life — but plan so your family isn’t left guessing.”

Should you have a will drawn up even if you are young and healthy?

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