When planning your legacy, you may wonder about estate planning vs. will. While many people think a will is enough, the truth is that a will is just one part of estate planning. The phrase “estate planning” is used to describe the overall discussion, review and planning for how our assets – no matter how few or plenty – will be managed during our lifetimes and then distributed upon our deaths.
Estate planning can include creating a will and coordinating that will with additional tools and strategies, and considers how to protect assets during our lifetime, prepare for incapacity, and transfer property efficiently after death. Wills play an important role in estate planning, but relying on a will alone can create gaps in protection and overlook the benefits of a complete estate plan.
At Beller Law, PL, we guide clients across Florida—including Duval, Clay, St. Johns, and Nassau counties—through every stage of the estate planning process. If you are searching for an experienced estate planning attorney in Jacksonville, FL, our team is here to help you create a plan that protects your family and future. An experienced litigator with over 25 years of legal experience, Rebeccah Beller leads our team with compassionate, education-focused representation and timely results. We design estate plans to meet our clients’ unique needs and goals.
How Do Wills Work?
A will is a legal document, subject to strict legal requirements, that enables someone to:
- Direct who will receive your property, including real estate, personal belongings, and financial accounts;
- Name a personal representative (also called an executor) to administer your estate;
- Appoint a guardian for any minor children; and
- Specify how your estate should pay debts, taxes, and expenses.
A will only takes effect after death and must go through probate in Florida courts, including Duval County Probate Court for Jacksonville residents. To distribute assets under a will, the deceased person’s (decedent’s) personal representative or another loved one must present the original will to the probate court. The court confirms the validity of the will, allowing time for any interested parties to object to its validity through a will contest.
Next, the court appoints a personal representative, typically nominated in the will. Then, the personal representative:
- Inventories estate assets,
- Pays valid debts, and
- Distributes assets.
If you die without a valid will, Florida’s intestacy laws decide who inherits your property, and those assets will also pass through probate court.
What Is the Difference Between Estate Planning and a Will?
The difference between a will vs. estate planning is that a will is typically one part of a larger plan—the estate plan. Generally, estate planning helps to protect your assets, prepares for incapacity, and ensures a smooth property transfer after death. A will can be a key piece, but it works best when combined with other strategies and documents.
Complementary Tools and Strategies
Estate planning involves coordinating your will with other tools to help preserve assets for your loved ones, such as:
- Revocable trusts. Trusts allow individuals, regardless of wealth, to place assets into a legal arrangement where a trust owns assets, which a trustee manages to benefit beneficiaries. Revocable trusts offer control, asset management, and can bypass the probate process.
- Irrevocable trusts. Unlike revocable trusts, you cannot regain control over the assets held within an irrevocable trust once you create it. In exchange for the loss of control, you can protect the assets more effectively.
- Beneficiary designations. Retirement accounts, life insurance, and financial accounts with beneficiary designations allow you to choose who should receive funds upon your death.
We also coordinate with business succession plans, create strategies to minimize federal estate or gift taxes, and tailor solutions for any other unique circumstances in your life.
Preparation for Incapacity
An effective estate plan may include incapacity planning tools and strategies, like:
- Powers of attorney—legal documents that authorize a trusted person to handle your financial and legal matters if you cannot;
- Advance directives (living wills and designations of health care surrogates)—written statements that nominate someone to make medical decisions when you cannot, and describe your wishes for end-of-life medical care, such as whether to use life-sustaining measures; and
- Medicaid Asset Protection Trusts—an irrevocable trust that qualifies for Medicaid long-term care without first spending down assets.
These documents can make managing your affairs easier for you and your loved ones should something happen.
Is Estate Planning the Same as a Will?
So, is estate planning the same as a will? No. A will is a single legal document. Estate planning is an ongoing process that can include a will, trusts, and other tools to handle both lifetime and after-death matters. Estate planning benefits people at all income levels, not just the wealthy. It can help you avoid court-supervised guardianship, ensure minor children have named guardians, and protect the distribution of family property from unnecessary delays.
Estate planning is about more than simply writing down who gets what after you pass. A Jacksonville wills lawyer can explain how your will fits within a complete estate plan, ensuring your property is distributed efficiently, your children are protected, and your medical and financial decisions are honored if you become incapacitated.
Get Guidance from a Florida Estate Planning Attorney
Whether you want to start fresh or update an existing plan, Beller Law, PL, can help. We offer clear, practical answers—whether you need only a simple will or a complete estate plan with multiple documents designed for your situation.
Contact Beller Law, PL, today to schedule a consultation. Our experienced Jacksonville estate planning attorney will take the time to understand your goals and create a plan tailored to protect your assets, your loved ones, and your legacy.