Is a Will Enough to Protect Your Home?

Is a Will Enough to Protect Your Home?

By Whitney Knox Lee, Esq.

January 16, 2025

When it comes to real estate, whether it’s your family home or a piece of land you’ve worked hard to own, protecting it for future generations is vital for building generational wealth. A will is a key document for distributing your assets, including real estate, but is it enough on its own? Let’s break it down.

The Role of a Will in Protecting Your Property

At its core, a will allows you to decide who inherits your property after you pass away. It’s a legally enforceable way to ensure your wishes are honored, covering everything from your home and land to your vehicle, clothing, jewelry, and other personal belongings. Importantly, a will also lets you name backup beneficiaries if your primary choice is unable to inherit.

But here’s the catch: having a will doesn’t mean the transfer of your property will be simple or drama-free.

Is a Will Enough?

The answer? It depends.

• How Complex and Detailed Are Your Goals? If your estate involves multiple properties, unique arrangements, or very calculated ideals about how and when your property is gifted to others, a will might not cover every base. For example, if you want to ensure the smooth transfer of rental properties, a trust might provide better protection. Another example, if you want to leave amounts of money to several children but only after they have completed at least two years of college or vocational training, and you want them to receive part of the money at certain ages, you definitely need a trust.
• Family Dynamics: A will can lead to disputes if your heirs disagree on the distribution of your assets. For example, if you’re leaving property to one child out of several, this could trigger conflict or even a contested probate process. Here in Georgia, the probate process gets very expensive once the attorneys are needed to help manage the family drama.
• Probate Process: A will alone doesn’t avoid probate, which can be lengthy and expensive. Trusts, on the other hand, bypass probate entirely, providing a smoother transition for your heirs. If you want your property to be immediately passed to another person, a trust is the way to go. Otherwise, your loved one will have to wait for the probate process to be completed (can be months or years) before they can take over ownership of the property.

Why Family Conversations Matter

Beyond drafting legal documents, it’s just as important to have open conversations with your family. Talk about your plans for your real estate and why you’ve made the decisions you have. These discussions can prevent misunderstandings, reduce family discord, and help prepare your heirs for the responsibilities of homeownership—ensuring they understand and are ready for what it means to manage and maintain a property after your passing.

Take the Next Step

If you’re questioning whether a will is enough to protect your real estate (or other assets and goals) or if you don’t have a will yet, it might be time to speak to an expert. At Wills for the People, we believe estate planning should be within reach for everyone. Schedule a Legacy Planning Meeting today, and let’s create a plan that protects your loved ones and secures your future.