A Last Will and Testament is a legal document that outlines your wishes for how your assets, property, and personal responsibilities should be handled after your death.
Whether you're creating a Will on its own or as part of a broader estate plan with a Living Trust, this document plays a vital role in protecting your legacy and providing guidance for your loved ones.
Creating a Will Only
If you're creating a Will without a Trust, your Will allows you to:
Distribute your assets to individuals or organizations you choose
Name guardians for your minor children
Appoint an Executor to manage your estate through the probate process
Note: A Will must go through probate court, a legal process where the court validates your Will, oversees the settlement of debts, and ensures your assets are distributed according to your instructions.
→ Related: What Is Probate?
→ Related: What Does an Executor Do?
Creating a Will Alongside a Trust
When you create a Revocable Living Trust with NetLaw, a "Pour-Over Will" is also generated.
This special type of Will serves as a safety net to capture any assets you may have forgotten to move into your Trust during your lifetime. Upon your passing, those assets are automatically "poured over" into the Trust so they can be distributed according to the terms you've set in the Trust document.
Benefits of combining a Will and a Trust:
Ensures all your assets are accounted for
Helps avoid probate for assets placed in the Trust
Provides clear instructions even for property not previously transferred
→ Related: What Is a Pour-Over Will?
→ Related: Should I Create a Will and Trust?
Summary
Feature | Will Only | Will + Trust |
Goes through probate | Yes | No (if assets are funded into the Trust) |
Names guardians | Yes | Yes |
Handles all assets | Only those not otherwise directed | Yes—alongside Trust terms |
Appoints an Executor | Yes | Yes |
Creates a safety net | Not applicable | Yes—via Pour-Over Will |