Estate Management 101 A will may be only one of the documents you need—and one factor to consider—when it comes to managing your estate. Share | Related Content When Do You Need a Will? When do you need a will? The answer is easy: Right Now. When Heirs are Imperfect The money problems or bad lifestyle habits of adult children could lead to the squandering of any inheritance they receive. Principles of Preserving Wealth How federal estate taxes work, plus estate management documents and tactics.