A lot of people think that once they’ve written a will, they’re all set. And it’s true – a will is better than nothing. It names who you want to handle your estate and who should receive your assets. That’s an important first step.
But here’s where many people get caught off guard: a will doesn’t keep your estate out of probate. It doesn’t shield your assets from taxes. And it doesn’t provide the kind of long-term protection many families actually need.
Leaks break it down.
What a Will Does
A will allows you to spell out your wishes. You can name someone to serve as your executor and decide who gets what. It also lets you name guardians for minor children. If you pass away without a will, the state makes those decisions instead.
That said, a will still has to go through the probate process. That’s the court-supervised legal procedure for settling your estate. It involves paperwork, deadlines, public records, and court costs. Even with a valid will, your family can spend months (or longer) navigating the system.
What a Will Doesn’t Do
Here’s what many people don’t realize:
- A will does not avoid probate.
- A will does not protect assets from estate taxes, if those apply.
- A will does not provide privacy. Probate records are public.
- A will won’t help during your lifetime if you become incapacitated.
These gaps are where a full estate plan comes in.
What a Comprehensive Estate Plan Includes
A strong estate plan often goes beyond just a will. It might include a revocable living trust, which can help your family avoid probate entirely. It may also involve tools for asset protection, powers of attorney, and healthcare directives. Together, these documents create a more complete plan – one that works both during your life and after.
For example, a trust can:
- Keep you financial affairs private.
- Allow faster access to funds for your loved ones.
- Help reduce or avoid certain taxes.
- Make it easier to manage property across state lines.
It’s not about how much you own. It’s about whether your plan works when it’s needed most.
If you have a will, that’s a great first step. But if you want to make things easier for your family, it’s worth looking at the bigger picture. We’re happy to you understand your options and build a plan that fits your life.
