When Do You Need a Will? When do you need a will? The answer is easy: Right Now. Related Content U.S. Personal Savings Rate What can be learned from the savings rate? Does Your Child Need to File an Income Tax Return? When your child has income, there’s a good chance that he or she will need to report it and pay taxes. Tax Rules When Selling Your Home The tax rules governing profits you realize from the sale of your home have changed in recent years.