Why A Will Is Not Enough
When most people think about estate planning, they think about writing a will. It’s the tool we’ve all heard about—the magical document that ensures your family will be taken care of and your wishes will be honored after you’re gone. So, you write a will, sign it, tuck it away, and breathe a sigh of relief.
Unfortunately, that’s where many people stop—and where many problems begin. While a will is an essential piece of the estate planning puzzle, it’s far from the whole picture—and it often leaves behind surprises and challenges that families don’t expect until it’s too late. Relying on a will alone can leave your loved ones with unintended headaches, confusion, and sometimes significant financial burdens.
Let’s break this down together. I’ll explain why a will isn’t enough, what gaps it leaves behind, and what you really need to do to protect your family, your assets, and your legacy.
1. A Will Doesn’t Avoid Probate
Here’s the big misconception: Many people believe that once they have a will, their family can bypass the court system and handle things privately. Unfortunately, that’s not how it works.
A will must go through probate—the legal process where the court oversees the distribution of your assets—and that process can take a significant emotional and financial toll on your loved ones. Probate often adds months or even years of delays, thousands in legal fees, and unnecessary stress during a time when your family should be focused on healing and moving forward. And probate is not quick, simple, or cheap. In North Carolina, probate can take months, even over a year, depending on the complexity of your estate. Your family could face court fees, delays, and additional stress—all while grieving your loss.
I often hear, “But I don’t have much. My family won’t have to deal with probate.”
Unfortunately, that’s not always true. Even modest estates can wind up in probate, especially if property is involved or there are disagreements among heirs. Probate can be costly, stressful, and time-consuming—a burden your loved ones don’t need. If avoiding probate matters to you—and it absolutely should—you’ll need more than just a will.
2. A Will Doesn’t Cover All Your Assets
Not all your property is governed by your will. For example, any accounts or policies that have beneficiary designations—like life insurance, retirement accounts, and even payable-on-death bank accounts—are not distributed through your will. These accounts pass directly to the beneficiary you’ve named.
Here’s where things can go wrong: If you haven’t updated your beneficiary designations in years, they could be out of date. Maybe you forgot to change them after a divorce, remarriage, or the birth of a child. Imagine the wrong person—maybe even your ex—receiving a significant portion of your estate simply because you overlooked this detail.
A solid estate plan looks at all of your assets—not just the ones covered by a will. This means reviewing beneficiary designations, ensuring they’re updated, and coordinating them with the rest of your plan.
3. A Will Won’t Protect You If You’re Incapacitated
Here’s a tough but important truth: A will only takes effect after you die. If you become incapacitated—due to an illness, accident, or cognitive decline—your will does absolutely nothing to help you or your family.
Without additional documents in place—like a durable power of attorney and healthcare directives—your loved ones could be left in a state of chaos, facing urgent decisions without guidance. The stress of not knowing what to do, coupled with court delays and expenses, can quickly become overwhelming at an already difficult time. They might need to petition the court for guardianship just to make decisions for you—a process that’s expensive, time-consuming, and emotionally draining.
I always tell my clients: “Estate planning isn’t just about what happens after you’re gone. It’s also about protecting you and your family during your lifetime.” A complete plan includes documents that give your loved ones the power to help you when you need it most.
4. A Will Doesn’t Address Long-Term Care Planning
As an elder law attorney, I often work with families who are navigating the costs of long-term care. Nursing home care or assisted living can cost thousands of dollars a month—and those costs can quickly drain a lifetime of savings.
A will does nothing to address this. It won’t protect your assets from being spent down on long-term care. Without proper planning, you or your spouse might lose the home you worked so hard for, or your children might see their inheritance wiped out by care expenses.
The good news? With advanced planning, there are strategies to protect your assets while ensuring you still receive the care you need. Medicaid planning, trusts, and other tools can shield your legacy and give you peace of mind.
5. A Will Can’t Keep Things Private
If you’re like most people, you value your privacy. You might not want the details of your estate—who gets what, how much your assets are worth—to be public knowledge. Unfortunately, probate records are public records, which means anyone can see them.
Do you want nosy neighbors, distant relatives, or creditors combing through your personal affairs? A will offers no privacy protections.
The solution? Tools like living trusts can help you keep your estate private. With a properly funded trust, your assets can pass directly to your loved ones without going through probate or becoming part of the public record.
6. A Will Doesn’t Offer Tax Protection
For larger estates, tax planning is critical. Estate taxes, gift taxes, and other tax considerations can significantly impact the inheritance you leave behind.
While North Carolina currently does not have a state estate tax, federal estate tax laws still apply to high-net-worth families. And even if your estate isn’t large enough to trigger federal estate taxes, there may be other tax consequences your family could face, like capital gains taxes or income taxes on inherited retirement accounts.
A will alone doesn’t address these tax issues. Estate planning tools, like trusts and gifting strategies, can minimize taxes and preserve more of your legacy for your loved ones.
So, What’s the Solution?
Here’s the truth: A will is a great starting point, but it’s not enough. If you want to truly protect your family, your assets, and your wishes, you need a comprehensive estate plan.
This means:
A living trust to avoid probate and keep things private
Powers of attorney to ensure someone can act on your behalf if you’re incapacitated
Healthcare directives to guide medical decisions
Beneficiary reviews to keep everything up to date
Long-term care planning to protect your assets from nursing home costs
Tax strategies to minimize the tax impact on your estate
I know this can feel overwhelming—but you don’t have to figure it all out on your own. That’s what I’m here for. As an estate planning and elder law attorney, I help families like yours create tailored plans that go beyond a simple will.
Together, we’ll build a plan that ensures:
Your family is protected.
Your wishes are honored.
Your legacy is preserved.
Take The Next Step
If you’ve been putting off estate planning, or if you’ve only checked the “write a will” box, now is the time to take the next step. Let’s work together to give you and your loved ones peace of mind.
Ready to get started? Don’t wait until it’s too late. Contact me today, and let’s make sure your estate plan gives your family the protection and peace of mind they deserve.
