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What a Will Won’t Do: Protecting Your Family Beyond the Basics
- Sabine Franco
- Sep 29
- 3 min read
When most people think of estate planning, the first thing that comes to mind is a last will and testament. And while a will is an important part of your plan, it doesn’t cover everything. If you rely only on a will, you may be leaving your family vulnerable to court battles, unexpected costs, and unprotected loved ones.
Here are a few things a will won't do for you:
1. A Will Won’t Diminish Estate Taxes
A will doesn’t reduce your estate tax burden. Without the right strategy, your family may face unnecessary taxes after your passing. The good news? Certain types of trusts and estate planning tools can be used to minimize or even eliminate estate taxes. Working with a trusted estate planning attorney ensures your wealth passes on as efficiently as possible.
2. A Will Won’t Provide Long-Term Care
If you want to care for a loved one with special needs or someone who may require long-term assistance, a will alone isn’t enough. In fact, leaving assets outright in a will can sometimes disqualify them from government benefits. Instead, you’ll want to explore options like a special needs trust or dedicated life insurance planning to ensure their care is protected for the long haul.
3. A Will Won’t Distribute Every Type of Property
Not all property passes through a will. For example:
Retirement accounts (like 401(k)s or IRAs)
Investment accounts
Life insurance proceeds
Property owned jointly with someone else
These assets are controlled by beneficiary designations or joint ownership agreements—not the terms of your will. If your forms are outdated, your assets may end up in the wrong hands. This is why it’s critical to review and update beneficiary designations regularly.
4. A Will Won’t Provide for Pets
Your furry friends are family too, but pets can’t legally inherit property. If you want to make sure they’re cared for, you’ll need to create a pet trust or designate a caretaker, along with instructions and resources to cover their needs. Without this, your pets could end up without the protection you intended.
❓ Frequently Asked Questions About Wills
1. What does a will not cover?
A will does not cover assets with designated beneficiaries, such as retirement accounts, life insurance policies, or jointly owned property. It also won’t reduce estate taxes, provide long-term care, or create legal arrangements for pets. These situations often require trusts, beneficiary forms, or additional planning tools.
2. Is a will enough for estate planning?
No—while a will is an important starting point, it is rarely enough on its own. A comprehensive estate plan should include trusts, powers of attorney, healthcare directives, and updated beneficiary designations. This ensures your wishes are honored and your family avoids unnecessary stress, taxes, and court involvement.
3. What happens if I don’t have a will?
If you pass away without a will (known as dying intestate), state law decides how your assets are distributed. This often means the court chooses guardians for your children and divides property according to strict formulas—not your personal wishes. Having a will, although it still requires probate, gives you control and spares your family from confusion or conflict. If you are seeking to avoid probate (court) then you may want a more advanced estate plan.
This article is a service of The Ambitious Legacy Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by using the link below to schedule a call with our Client Services Director, who will be able to guide you on scheduling your Legacy Planning Session.
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