Make sure you know What a Will DOESN’T Do

What doesn’t a Will accomplish?

A will doesn’t avoid the probate court’s involvement.  In fact, it guarantees a probate if you have a certain type or level of assets. Find out more about probate and why people want to avoid it here.

A will doesn’t protect your assets from nursing home costs prior to your death. Find out more about how to prepare for nursing home costs here.

A will doesn’t cover assets that are owned jointly.  Instead, they will go automatically to the joint owner.

A will doesn’t address any asset with a beneficiary named, such as life insurance or IRA.  Those assets will be transferred to the person named in the beneficiary form. To read more about asset protection, feel free to explore the Asset Protection section of our website.

An effective estate plan will include legal documents, such as a Will, but will also include much more.  Without all the parts of the plan working together, your plan will not work and will leave your family with unnecessary stress later. If you’d still like to know more, check out the Wills and Trusts section of our website, come to one of our *Free* Truth About Estate Planning Workshops or give us a call at (217) 726-9200.