Why Wills Are Worthless?

In my opinion, wills are worthless because most consumers do not know the differences between a will and a revocable living trust or otherwise known as a "Living Trust". A will is simply a document that declares a senior or elder's wishes upon their death. Thus, a will is a document that transfers their assets upon their death unlike a Living Trust. In contrast, a Living Trust is a document that disposes a senior or elder's assets upon their death, but a Living Trust also assists in the transfer of one's assets while they are living. Hence, the name "Living Trust" because a Living Trust is a death and life document unlike a will. Many seniors and elderly must have guardianship proceedings, which are a form of probate because they did not have a legal document such as a power of attorney or Living Trust to deal with an incapacity. Many seniors and the elderly have a will, but the will was worthless with their incapacity.

Second, a will must undergo probate court upon their death. Probate court is a court that hears inheritance claims and determines who should be the executor of your estate and who should inherit your assets. A probate judge does not have to follow your wishes and appoint your preferred executor. The probate judge has discretion, but in most cases, the probate judge follows the decedent's wishes.
A will must be probated is news to most seniors because they do not know that an attorney is required for probate, which costs a lot of money and is time consuming. Many seniors and elderly or their children have heard nightmare stories about probate. Probate can be a nightmare and a will invites family conflict because the probate process requires all family members including disinherited family members to obtain notice of the probate hearing. This leads to disgruntled family members filing will contests, which drag on the proceedings and increase the amount of legal fees and costs expended.

Unlike a will, a Living Trust avoids probate court because your real estate is titled in the Living Trust's name and no probate proceeding is required upon your death or incapacity. This is important because it saves family conflicts and thousands of dollars in attorney's fees and costs. More importantly, it saves off a major conflict for the relative that is intended to inherit your assets.

With a will or Living Trust, a power of attorney for property and healthcare are recommended. A power of attorney for property is a power in Illinois given to an agent that you appoint to pay your bills and make financial decisions when you are incapable of helping yourself. In contrasts, a power of attorney for healthcare is a legal document where you appoint a person to make healthcare decisions for yourself and give them instructions in how to make those decisions for you.

In conclusion, estate planning is critical and wills are worthless because they often do not accomplish a senior's objective, which is to give a loved one their assets with minimal hassle. As discussed, heirs of decedents have a big hassle in going through probate court in Illinois with a will or without a will.

Sean Robertson is an estate planning and asset protection attorney. Sean Robertson is managing Partner of Robertson Law Group, LLC. Robertson Law Group, LLC has offices in downtown Chicago and Naperville, Illinois. Robertson Law Group, LLC services Cook, Dupage, Kane, Kendall, and Will Counties. Sean Robertson can be reached at either (312) 498-6080 or (630) 364-2318.