I have a will, so my estate planning is all set. Right?
Sheri Montecalvo
Estate Planning | Elder Law | Probate | Wills & Trusts | Helping you navigate your plan for the future. Serving clients in RI, MA, CT.
If you have a will, you might feel like?you’ve?checked the box on estate planning and can breathe easy knowing your loved ones are protected. However, while a will is an essential document,?it’s?only one piece of a larger puzzle. Comprehensive estate planning goes beyond a simple will to ensure your wishes?are carried out?and?your family is cared for in the best way possible. So,?what’s?the difference between a will and an estate plan??Let’s?break it down.
Think of estate planning like completing a jigsaw puzzle.?A will is?a?crucial?piece, but?it’s?far from the whole picture.?When you only have a will,?it’s?as if?you’ve?placed one piece of the puzzle on the table. That piece shows part of the image, but the?full?picture of your wishes, values, and legacy remains incomplete ??
An estate plan brings all the pieces together. It ensures that every detail - from who will manage your finances if?you’re?incapacitated?to how your assets will?be distributed?after your death fits seamlessly. Without a complete plan, gaps remain, and those gaps can lead to unnecessary stress, confusion, and cost for your loved ones.
Let's?go over the differences?...
A will is a legal document that outlines your wishes regarding the distribution of your assets and the care of any minor children after your death.?
While having a will is crucial, it has its limitations.?For example, a will only takes effect after you pass away,?and?it?doesn’t?address?certain?situations, such as incapacity during your lifetime.
领英推荐
An estate plan?on?the other?hand?is a comprehensive approach to managing your assets, health care decisions, and financial affairs during your lifetime and after your death.
When all the pieces of your estate plan are in place, you have a complete and clear picture of your intentions. Your loved ones will have a roadmap to follow, and you can rest assured that your legacy is secure. Without this comprehensive approach,?it’s?like handing your family a puzzle with some missing pieces - and we all know how frustrating that can be!
If you have a will,?that’s?a great start, but?it’s?not the finish line. Comprehensive estate planning ensures your loved ones are fully protected?and?your wishes are honored, no matter what happens.
As we step into 2025,?there’s?no better time than now!?Let’s?work together to create a personalized estate plan that meets your needs and provides peace of mind for you and your family.