Having a Will is not the Same Thing as Having an Estate Plan

According to Merriam-Webster's dictionary, a "plan" is a method for achieving an end; a detailed formulation of a program of action; an orderly arrangement of parts of an overall design or objective.

If you only have a Will, you do not have a plan. You have a document.

A screwdriver isn't useful without a screw.

A hammer can't do much without a nail.

Similarly, a Will can be an effective tool, but not by itself. A Will does not cover how things are to be handled if you become temporarily or permanently incapacitated. A Will does not control who the heirs will be for every asset you own (such as those controlled by beneficiary designation forms). A Will cannot protect your heirs from predators and creditors. A Will requires a probate rather than avoids one.

If all you have is a Will, then unfortunately you still have a lot of exposure. Something is better than nothing, that's for sure. But, if you want to do better, plan better, then please contact us. We can help!