www.principal.com Open in urlscan Pro
2620:12a:8001::2  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to main content
 * For Individuals
 * Invest & retire
    * Ways to Save
      * Roth & traditional IRAs
      * Rollover IRA
      * Annuities
      * Retirement plans
    * My Retirement Plan
      * Enroll in your 401(k)
      * Rollover an account
      * Find a form
    * Get Help
      * Help for individuals
      * Find a financial professional
   
   Your financial future starts here
   
   Discover your path to investing and retirement

 * Insure
    * Ways to Insure
      * Disability income insurance
      * Disability income retirement security
      * Estate planning & irrevocable life insurance trusts
    * My Insurance
      * Find a dentist
      * Find a vision provider
      * Find a form
      * View a claim
    * Get Help
      * Help for individuals
      * Find a financial professional
   
   Peace of mind starts here
   
   Discover how insurance can help you protect what matters

 * Build your knowledge
    * Getting Started
      * Budgeting
      * Debt
      * Education
      * Financial planning
      * Investing
    * Living Your Life
      * Health care
      * Insurance
      * Markets and the economy
      * Taxes
      * Workplace benefits
    * Looking Ahead
      * Estate planning
      * Nearing retirement
      * Retirement income
      * Retirement planning
      * Social Security
   
   See all topics and articles

For Businesses
Search
Clear

SearchLoading


Close search
Log in Menu
Retirement, Investments, & Insurance for Individuals Build your knowledge How to
make a will in 7 steps
How to make a will in 7 steps

Create a will so your assets end up with the people and causes you care about
most. We’ve broken down the process into 7 straightforward steps.  


4 min read | August 16, 2023

Creating a will is a big part of estate planning—and keeping it updated with
accurate information is important. If you haven’t yet made a will, or you have
an outdated one that’s collecting dust, you’re not alone. Only one-third of
adult Americans have created a will—a figure that’s unexpectedly decreased since
before the pandemic.1



What exactly is a will? A will is a document outlining clear instructions, so
you have final say over what happens to your money and belongings even after you
pass.

“It’s the foundation the rest of your estate plan is built on,” says Stanley
Poorman, a financial professional at Principal®. “It contains all the important
details that you choose, so a judge doesn’t decide for you.”

Fortunately, this can all be easy. Use our worksheet (PDF) to answer some
big-picture questions. Then, follow these seven steps to make a will or update a
will you already have.


1. LIST ALL YOUR ASSETS.

These might include:

 * Savings and retirement accounts (though these may already have beneficiaries)
 * Investments, including stocks, bonds, and mutual funds
 * Real estate
 * Life insurance policies and annuities
 * Other property, such as vehicles, jewelry, and family heirlooms


2. DECIDE WHO GETS YOUR MONEY AND BELONGINGS WHEN YOU DIE.

Without a will, your assets will be distributed according to state laws through
a potentially lengthy and complicated process called probate—so make these
decisions for yourself, rather than leaving them to a judge.

Note that beneficiaries named on accounts, such as a 401(k), will generally
override anything in a will, so also check that those are up to date.
Additionally, property owned jointly, such as your house, doesn’t go through
probate, so you don’t have to choose a successor for these items.

Quick step: Log in to your account to update your beneficiaries for life
insurance, retirement plans, and investments.


3. CHOOSE GUARDIANS FOR MINOR CHILDREN.

Choose who you’d want to take care of your kids if something happens to you.
Have a clear conversation with potential candidates before naming them in your
will to get their consent.

A note of caution: Although you may nominate a guardian, the courts will issue a
mandate believed to be in the best interest of the child. So be very descriptive
when explaining your choice, especially if the named guardian isn’t an immediate
family member. Maybe it’s a close relationship, similar belief systems, or they
live in your school district and you don't want your child or grandchild to go
through even more changes.


4. MAKE YOUR OWN WILL OR WORK WITH A PROFESSIONAL.

It’s usually a good idea to consult an attorney who can help answer legal
questions and guide you through the will-making process. In some cases, however,
you may be able to use a free online tool—especially if you don’t have minor
children and have a modest, uncomplicated estate. If you participate in a
retirement plan through Principal or have one of our IRAs, you and your spouse
can also access free online resources to prepare your own will and other estate
planning documents from ARAG®.

To get started, create an account with ARAG.


5. NAME AN EXECUTOR FOR YOUR WILL.

The executor of your estate will be the point person for carrying out the terms
of your will. To avoid surprises or conflicts, ask this person if they’re up to
the task. You may want to give them a copy when the will is complete, and make
sure that they get a new version if you ever make changes or updates.


6. MAKE YOUR WILL OFFICIAL.

Most states require your will to be signed by two witnesses who are at least 18
years old and aren’t beneficiaries of your estate. Some states also require it
to be notarized.


7. KEEP IT UPDATED.

Once your will is written, plan to revisit it periodically—set a yearly calendar
reminder to do so. Events that might warrant modifications include:

 * Changes in the family (marriages, divorces, adoptions, births, and deaths)
 * Changes to income and net worth
 * Out-of-state moves

If your will requires changes, consider simplifying the process by working with
an attorney.


NEXT STEPS

 * If you participate in a retirement plan through Principal or have one of our
   IRAs, you and your spouse can access free online resources to prepare your
   own will from ARAG. To get started, create an account with ARAG.
 * Ask for help. A financial professional can talk you through your options.
   Don’t have one? Check with your HR contact to see if your company’s
   retirement savings plan offers this service. Or, we’ll help you find one.

Estate planning

--------------------------------------------------------------------------------

12023 Caring.com Will and Estate Planning Survey

The value-added resources provided through ARAG Services, LLC are not a part of
any insurance products and plan administrative services provided through
Principal Life Insurance Co or affiliated with any company of the Principal
Financial Group®. All resources may be changed or canceled at any time.

The use of resources provided by ARAG Services, LLC should not be considered a
substitute for consultation with an attorney or advisor. Principal® is not
responsible for any loss, injury, claim, liability, or damages related to the
use of the ARAG Will & Legal Document Center resources.

Please remember that the ARAG legal documents are accurate and useful in many
situations. Whether the document is right for you and your situation depends on
your circumstances. If you want specific advice regarding your situation,
consult an attorney.

Information is intended to be educational in nature and is not intended to be
taken as a recommendation.

Investment advisory products offered through Principal Advised Services, LLC.
Principal Advised Services is a member of the Principal Financial Group®, Des
Moines, IA 50392.

ARAG Services, LLC is not an affiliate of any company of the Principal Financial
Group®.

2025359-022022

Our company

 * About us
 * Investor relations
 * News room
 * Sustainability
 * Insights

We're hiring

 * Careers
 * Global jobs
 * Financial professional opportunities
 * Internships
 * Recent graduates

Other sites

 * For dental providers
 * For financial professionals
 * Principal Asset Management

Our company
 * About us
 * Investor relations
 * News room
 * Sustainability
 * Insights

We're hiring
 * Careers
 * Global jobs
 * Financial professional opportunities
 * Internships
 * Recent graduates

Other sites
 * For dental providers
 * For financial professionals
 * Principal Asset Management

Contact
 * 800-986-3343
 * Help topics
 * Contact us

 * 800-986-3343
 * Help topics
 * Contact us

 * Terms of Use
 * Disclosures
 * Privacy
 * Security
 * Report Fraud
 * Site Map

© 2023, Principal Financial Services, Inc.

Securities offered through Principal Securities, Inc., member SIPC





COOKIES ACCEPTANCE



By clicking “Accept all”, you agree to storing cookies on your device to enhance
site navigation, analyze site usage, and assist in our marketing efforts. More
information can be found by clicking "Manage cookies".

View our Global Privacy Statement



Manage cookies Accept all



PRIVACY PREFERENCE CENTER

When you visit any website, it may store or retrieve information on your
browser, mostly in the form of cookies. These “cookies” of information might be
about you, your preferences, or your device, and they’re mostly used to make the
site work as you expect it to. Cookies don’t usually directly identify you, but
they can give you a more personalized web experience. Because we respect your
right to privacy, you can choose not to allow some types of cookies. Click on
the category headings to read more or change your default settings. (Note:
Blocking some types of cookies may impact your experience on our site, as well
as the services we can offer you.)
More information
Accept all


MANAGE CONSENT PREFERENCES

STRICTLY NECESSARY COOKIES

Always active

These cookies are necessary for our website to function and can’t be switched
off in our systems. They’re set for you behind the scenes when you do things
such as log in, fill out forms, make a request for services, or set your privacy
preferences. You can set your browser to block or alert you about these cookies,
but some parts of our site won’t work without them.

Cookies Details‎

PERFORMANCE COOKIES

Performance Cookies

These cookies allow us to count how many times people visit our website, and how
they get here, so we can measure and improve its performance. They show us which
pages are the most (and least) popular, and how visitors move around on the site
when they’re here. If these cookies are, we have less information about how to
improve our sites that will be useful to you.

Cookies Details‎

FUNCTIONAL COOKIES

Functional Cookies

These cookies enable our website to work smoothly and in a manner personalized
to you. They may be set by us or by third-party providers whose services we’ve
added to our pages. For example; downloading a customer service form using PDF.
If these cookies are blocked, then some or all of these services may not
function.

Cookies Details‎

MARKETING COOKIES

Marketing Cookies

These cookies may be set through our site by our advertising partners. They may
be used by those companies to build a profile of your interests and show you
relevant advertisements on other sites. If these cookies are blocked, you will
experience less targeted advertising.

Cookies Details‎
Back Button


BACK



Search Icon
Filter Icon

Clear
checkbox label label
Apply Cancel
Consent Leg.Interest
checkbox label label
checkbox label label
checkbox label label

 * 
   
   View Cookies
   
    * Name
      cookie name

Confirm my choices