What a Will Does (and What It Doesn't)

At Gentreo, we often joke that we are fun at dinner parties because we tend to ask guests, “Do you have a will?” Unfortunately, the answers vary: “No, and now I need one because…” (sad story follows), “I don’t plan on dying, so I don’t need one,” or “Oh, the cost! I can’t afford that.” 

The answer should pretty much always be, “Yes! I have a will, and I update it often!” 

While a will is needed by almost everyone, it should be tailored to reflect your specific wishes. Unfortunately, many people assume they already understand what a will is for, and that assumption is often incorrect. A will serves a specific and important role in estate planning, but it is not a one-size-fits-all solution. Understanding what a will does—and just as importantly, what it does not do—helps set realistic expectations and can prevent confusion for your loved ones down the road. 

Whether you're creating a will for the first time or reviewing one written years ago, knowing how wills work in practice can make all the difference. Note that your state dictates what the laws of your will are and each state has its own estate planning laws. And, a will only takes effect after someone has passed away. 

What a Will Is 

A will, formally called a Last Will and Testament, is a legal document that says what should happen to your assets after you pass away. It provides instructions for how your property should be distributed and designates who will carry out those instructions. The will also notes who should care for your minor children and your pets. 

Essentially, a will communicates your wishes when you're no longer here to express them yourself. 

Key information: Without a will, you're considered to have died "intestate." In that case, state law and the courts, not your personal preferences, determine who receives your property, who manages your estate, and sometimes even who takes responsibility for your minor children. These default rules prioritize order over personalization and rarely align perfectly with your family's unique situation or your actual wishes. 

A will lets you make choices. You can specify who receives particular property, who should oversee the process, and who should care for your children or pets if you pass away.  

Again, note that a will only will become effective after death. It doesn't provide any help if you become ill or incapacitated during your lifetime. Other estate planning documents such as a health care proxy, living will, and power of attorney address those scenarios. Also, a will to be made legal needs to be signed and witnessed and depending on your state notarized according to the laws of your state.  

What a Will Does Particularly Well 

Naming an Executor 
One of the most critical functions is designating an executor. This is the person responsible for settling your estate. This role typically includes gathering assets, paying outstanding debts and taxes, coordinating with the court, and distributing what remains according to your will. It can be both time-intensive and emotionally challenging, which makes selecting the right person crucial. 

If you don't name an executor, the court will appoint someone. That person might not be who your family would have chosen and may not move at the speed you desire. Professional administrators are generally paid from estate funds. 

Nominating Guardians for Minor Children 
A will is the only document where parents can formally nominate guardians for their minor children. If both parents pass away without a will, a judge unfamiliar with your family must decide who will raise your children. While naming a guardian doesn't guarantee the court's decision, it provides clear guidance from the people who know your children best. 

Distributing Personal and Sentimental Items 
Wills are valuable for directing who receives personal belongings. While some items may not have significant financial value, they often carry tremendous emotional weight. Your will can specify who should receive jewelry, family heirlooms, collections, or other meaningful possessions, helping prevent misunderstandings or family disputes later. 

Planning for Pets 

For many families, pets are beloved members of the household. Under the law, however, pets are classified as property. Without clear instructions, decisions about their care may be made hastily and without proper context. 

A will can designate someone to care for your pet and include guidance about routines, medical needs, or specific preferences. Some people also leave funds to cover veterinary care or ongoing expenses, directing those resources to the caretaker. 

Planning for pets is less about legal technicalities and more about ensuring continuity of care. Clear instructions help make sure your pet goes to someone familiar and trusted, rather than facing an uncertain or temporary situation. 

What a Will Does Not Do 

Understanding a will's limitations is just as important as understanding its strengths. 

A Will Does Not Avoid Probate 
One common misconception is that having a will avoids probate. In most cases, it doesn't and is just the opposite. Probate is the court process that validates your will and supervises asset distribution. A well-written will can streamline probate, but it doesn't bypass it entirely. 

A Will Does Not Control All Assets 
Another misunderstanding is that a will governs every asset you own. Actually, many assets transfer outside of your will. Retirement accounts, life insurance policies, payable-on-death accounts, and some jointly owned property pass according to beneficiary designations or ownership structure if appropriately put in place.  

This represents one of the most common planning oversights. Your will might say one thing while your account documentation says another, and the account documentation typically prevails. Even if designations are outdated, your will often can't override them, so it is important to keep beneficiaries current. 

Wills and Trusts Often Work Together 

People frequently ask whether they need a will or a trust. Often, the answer can be both depending on your situation. 

Even when someone establishes a revocable living trust to hold major assets and minimize probate, a will still serves an important function. A "pour-over will" acts as a safety net, directing any assets not transferred into the trust to be handled according to the trust's provisions. 

Additionally, a will is still necessary to nominate guardians for children and name who will inherit your pets, regardless of whether you've created a trust. 

Keeping Your Will Up to Date 

A will represents a snapshot in time. As your life evolves, your will should evolve too. 

Marriage, divorce, births, adoptions, relocations, new assets, or the death of someone named in your will can all impact whether the document still functions as intended. An outdated will can create confusion or produce outcomes that no longer make sense. Many people we have talked to mention they created a will when their children were born, but now the kids are adults and have kids of their own and they are on their third house, two states away from where they created their first estate plan.  

Consider reviewing your will every year, and especially after any significant life change, to confirm it still reflects your current wishes. Significant events might include, but are not limited to, getting married or divorced, moving to a new state, having a baby, caring for aging parents, and after loved ones pass away who are named in your documents. 

Getting Started 

Creating a won't begin with legal terminology. It usually starts with practical questions: Who should manage things? Who should care for your children or pets? What matters most to you, and who should receive it? 

Gathering this information first often makes the entire process more manageable. 

A Will as an Act of Care 

At its heart, a will isn't really about paperwork or court proceedings. It's about the people and animals you'll leave behind. 

By documenting your wishes and naming responsible individuals, a will eliminates guesswork during an already difficult time. It minimizes the potential for conflict and provides your loved ones with clearer direction. While a will can't ease grief, it can help prevent additional stress and costs. 

A Final Thought 

Estate planning works most effectively when each document fulfills its intended purpose. A will remains a cornerstone of that plan, even when other tools are involved. 

Many families organize their wills, pet care instructions, beneficiary information, and related documents in a secure digital vault. The original notarized copies may be needed and thus should be kept in a secure, accessible place so everything can be found when needed.   

Creating a will now is affordable and easy to-do using online tools. Now, if someone asks you if you have a will, you can smile and say, “Why, yes I do!” 

This article is for informational purposes only and should not be considered legal advice. Consult with a qualified attorney or estate planning professional for personalized guidance. 

Author, Gentreo