Greg’s Life

It’s only the blog’s name. This isn’t my real life!

Posts for Tag: Family

Crucial part of estate planning & saving loved ones from "horror stories"

While having a will is a crucial part of estate planning, relying solely on a will without a trust can lead to complications and potential "horror stories" for your loved ones after you're gone.


Here's why a will alone can create problems and some examples of where things can go wrong:

1. Probate:
  • Time and Expense: A will must go through probate, a court-supervised process to validate the will and distribute assets.
  • Probate can be a lengthy process (potentially taking many months or even years) and can be costly, reducing the inheritance available for your beneficiaries.
  • Public Record: Wills and probate proceedings become public records, potentially exposing your family's private matters.

2. Lack of Privacy:

  • Public Disclosure: Since a will becomes a public record during probate, anyone can access it and see details about your assets and how they're distributed.

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