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. Understanding the Alternate Valuation Date Executors can value the estate on the date of death, or on its six-month anniversary —the “Alternate Valuation Date." Principles of Preserving Wealth How federal estate taxes work, plus estate management documents and tactics.