Estate Planning FAQs, Part 2 of 2: On How to Handle Your Assets
Estate planning can feel like a maze. Should you get a will? Set up a trust? Or do nothing at all? (Spoiler: That last one is not the answer.) These aren’t just hypothetical questions—they’re decisions that will shape your loved ones’ futures.
In this second part of my Q&A series, I’m breaking down the key differences between your main estate planning options and giving you practical tips to make sure your family is protected, no matter what life throws your way. Let’s start with the basics: estate planning documents. Ready? Let’s dive in!
Q: Will, living trust, or no plan at all—what’s the difference, and how does it impact your family’s future?
A: If you die without an estate plan, you don’t escape having a plan—you just get the one the state chooses for you. Spoiler alert: it’s not ideal. Your loved ones will likely face a court process called probate, which is time-consuming, expensive, and public.
Dying without a will is called dying “intestate”—and it means the court decides who gets what according to state laws. This often doesn’t align with your wishes, leaving your family navigating a stressful process at an already difficult time.
Having a will is better than nothing, but it’s not a magic fix. A will serves as an instruction manual for your assets, allowing you to name guardians for minor children and specify distributions. However, it still requires probate. Your executor must file the will with the court, and it could take months—or even years—before your loved ones see their inheritance. Worse yet, probate makes everything public, leaving your assets and inheritors open to nosy neighbors or even predators.
Want to avoid all that drama? Create a trust. Think of a trust as a container for your assets. During your lifetime, you’re in control. When you pass or become incapacitated, a successor trustee you’ve chosen takes over to distribute your assets privately—no probate required. With a properly funded trust, your beneficiaries can receive their inheritance in weeks, not years, saving them time, stress, and money.
Trust me—your family will thank you. 😊
Q: Does every estate have to go through probate when someone passes away?
A: Whether probate is necessary depends on how your assets are titled at the time of your death and the total value of assets solely in your name. If there’s no beneficiary designation, assets in your personal name must go through probate, with a judge deciding who gets what.
There are exceptions, though:
Jointly owned property automatically goes to the surviving owner.
Assets with named beneficiaries (like life insurance or retirement accounts) bypass probate and go directly to those beneficiaries.
Assets in a properly funded living trust follow the trust’s instructions—no court involved.
It’s important to know that how your assets are set up can either make things simple or create a major headache for your loved ones. That’s why working with someone who gets your goals—and knows how to structure your assets to meet them—is critical, especially if you want to keep your family out of court and conflict.
Keep reading to see how I can help make that happen!
Q: What if discussing death and finances makes me uncomfortable?
A: I get it—thinking about death and talking about money can feel uncomfortable. But here’s the truth: avoiding these conversations now can leave your loved ones with a costly, time-consuming mess during one of the hardest times of their lives.
Here’s what you need to know:
No plan? The court decides.
If you become incapacitated or pass away without a plan, the court steps in to make decisions about your care and your assets based on state law—not what you would have wanted.Got kids? The court decides for them, too.
If you have minor children and no estate plan, a judge—a total stranger to you and your family—will decide who raises them and manages their inheritance. Worse, once your kids turn 18, they’ll get whatever’s left without any protections. Imagine an 18-year-old with full control over their inheritance. Yikes!It costs more not to plan.
Without a plan, your family could spend way more time, energy, and money untangling your affairs than if you’d set one up.
The good news? Creating a plan doesn’t have to be hard or awkward. Working with a trusted advisor (hi, that’s me!) makes the process simple and even empowering. You’ll have peace of mind knowing your loved ones will be taken care of—your way.
Let’s make it happen. 💼
Q: What’s the easiest way to take the burden off your family and handle these matters stress-free?
Let’s get one thing straight—the best way to reduce stress for your family is to have a clear, comprehensive Estate Plan in place before anything happens. People think estate planning is stressful, but it’s actually not planning that leaves families overwhelmed.
Here’s how I make it simple and stress-free when you work with me as your Personal Family Lawyer®:
Clarity First
We’ll start by figuring out what you own, who you love, and what would happen to your people and assets if something happened to you right now. Spoiler: if you don’t like the answer, that’s where I come in.Make Empowered Choices
Together, we’ll decide who should inherit what, who should carry out your wishes, and how everything should be handled. No guesswork, no stress.Keep It Current
Life happens, and plans need to keep up. I’ll support you with regular reviews, so your plan works exactly as intended when your family needs it most. We’ll also maintain an updated asset inventory, so nothing gets lost to the state.
But we don’t stop there. Beyond the legal docs, I’ll help you:
Document wishes for sentimental items, so no one argues over Grandma’s heirloom ring.
Have conversations with your loved ones now, so there are no surprises later.
Conduct a Planning Session to capture your values, stories, and insights—the things that matter most but can’t be written into a will.
Most importantly, I’ll be there for your family when you can’t be, guiding them through the process and making sure everything runs smoothly. That’s the power of our Planning Session—it’s about more than protecting assets; it’s about protecting the people you love.
How We Help You Find Peace of Mind
Let’s face it—thinking about death and money isn’t exactly anyone’s idea of a good time. That’s why, at 20West Legal, we’ve designed a simple, step-by-step process to help you get everything in order and protect your family without feeling overwhelmed.
As your Personal Family Lawyer® Firm, we take estate planning beyond just signing documents. Through our Planning Session, we:
Help you make confident, informed decisions about your family’s future.
Keep your plan updated as life changes.
Ensure your wishes are carried out exactly as you intend.
And most importantly? We’ll be there for your family when you can’t be, providing the guidance and support they need to navigate what will likely be a tough time.
By working with us, you’ll gain the peace of mind of knowing you’ve done everything possible to make things easier for the people you love.
Ready to get started? Click here to schedule a complimentary 15-minute consultation: https://go.20westlegal.com/meeting-scheduler
This article is a service of 20WestLegal LLC. We don't 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 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 calling our office in Sudbury, Massachusetts today to schedule an Estate Planning Session and mention this article to find out how to get this $750 session at no charge.
The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.
