Many people mistakenly believe that a will is applicable for everyone. It is not, unless your assets are very minimal. In truth, a will usually hurts the ones you love because it will go through the probate process. Moreover, a simple will does not provide the multitude of benefits associated with a living trust.

A will does distribute your assets in accordance with your wishes; however, it generally takes one to three years to pass through probate, all the while eating up a good portion of your estate.

If your estate (including any real estate you own, life insurance policies, etc.) is worth a gross value of less than $100,000, a simple will might be appropriate in the short run. However, even with a will it is still important to execute powers of attorney for finance and health care. Powers of attorney will be discussed in greater detail on The Powers of Attorney & Other Trust documents page.

Hand-written wills create even more problems because they are often contested or drafted in a manner which makes them invalid. If the will is deemed invalid the estate goes through probate and is administered as if the will did not exist. The court appoints an uninterested executor to distribute your property with a cold hand.

Overall, it is simply not a recommended planning device. With a small investment of time and minimal expense, a complete Living Trust Planning Package can be executed and will handle all of these issues.