When Do You Need a Will? When do you need a will? The answer is easy: Right Now. Share | Related Content Exit Strategies of the Rich and Famous Estate conservation is too important to put off. Do you have a smart exit strategy? A Primer on Irrevocable Life Insurance Trusts Irrevocable life insurance trusts can be important tools that may accomplish a number of estate objectives. What Is My Life Expectancy? Estimate how many years you may need retirement assets or how long to provide income to a surviving spouse or children.