When people think about preparing for the future, the first thing that comes to mind is often a will. But drafting a will and creating an estate plan are not the same thing.
A will is a single legal document. Estate planning, on the other hand, is a comprehensive process that uses multiple tools to manage and protect your assets, provide for your loved ones, and minimize legal complications after your death.
As experienced Ohio estate planning attorneys, we often hear clients ask: “Do I just need a will, or do I need a full estate plan?” This article explains the difference between the two, and why estate planning offers broader protection.
What Is a Will?
A last will and testament is a legal document that states your wishes for distributing property after your death. Key features of a will include:
Naming beneficiaries for assets like real estate, bank accounts, or personal property.
Appointing an executor to manage the estate through the probate process.
Designating guardians for minor children.
Expressing final wishes, such as funeral arrangements.
In Ohio, a valid will must generally be:
In writing,
Signed by the testator (the person making the will), and
Witnessed by two competent individuals.
A will is a critical document—but it only takes effect after death and often requires probate, the court-supervised process of distributing assets.
What Is Estate Planning?
Estate planning is broader than drafting a will. It is a strategic, long-term process that considers not just what happens when you pass away, but also how your affairs are managed during your lifetime.
An estate plan may include:
A will (as one component)
Trusts to manage assets, avoid probate, and provide tax advantages
Powers of attorney for financial and healthcare decisions if you become incapacitated
Advance healthcare directives or living wills to guide medical treatment
Beneficiary designations on retirement accounts and life insurance policies
Business succession planning for owners and entrepreneurs
Tax planning strategies to preserve wealth for heirs
Whereas a will is reactive—only functioning after death—estate planning is proactive, aiming to protect you and your family throughout your lifetime and beyond.
Key Differences Between Drafting a Will and Estate Planning
1. Scope
Will: A single document dealing with property distribution after death.
Estate Planning: A holistic approach addressing lifetime decisions, incapacity, probate avoidance, and long-term financial strategies.
2. Timing
Will: Only takes effect after death.
Estate Planning: Begins during your lifetime and continues after your death.
3. Probate
Will: Almost always requires probate, which can be time-consuming and public.
Estate Planning: Can incorporate tools (like trusts) to avoid or minimize probate.
4. Incapacity Planning
Will: Provides no protection if you become disabled or incapacitated.
Estate Planning: Includes powers of attorney and healthcare directives to ensure your wishes are followed if you cannot make decisions yourself.
5. Flexibility
Will: Limited in scope; does not address tax planning or asset protection.
Estate Planning: Highly customizable to address family dynamics, business interests, charitable giving, and wealth preservation.
Why a Will Alone Is Not Enough
Many Ohio families assume that a will is sufficient. While a will is better than no plan at all, it has limitations:
It does not avoid probate.
It does not provide instructions during incapacity.
It may not adequately protect blended families, special-needs dependents, or complex assets.
It does not minimize estate taxes or preserve wealth over generations.
For business owners, relying only on a will can leave a company vulnerable, as it provides no roadmap for succession planning or continuity.
Benefits of Full Estate Planning
Engaging in estate planning with an experienced attorney offers benefits far beyond what a will alone provides:
Control and peace of mind knowing your wishes will be honored during life and after death.
Privacy by using trusts and non-probate transfers to keep matters out of court.
Family protection through guardianship designations, special-needs planning, and equitable distribution.
Financial security by reducing taxes, preserving wealth, and managing debts.
Business stability through succession planning tailored to your company.
How an Ohio Estate Planning Lawyer Can Help
Just as every family is unique, every estate plan should be tailored to individual needs. An Ohio estate planning lawyer can:
Assess your assets, family dynamics, and long-term goals.
Draft wills, trusts, and powers of attorney that reflect your intentions.
Develop strategies to minimize probate, taxes, and disputes.
Update plans as laws and life circumstances change.
Estate planning is not just for the wealthy—it is essential for anyone who wants to protect their loved ones and make life easier for them in the future.
Conclusion
So, what is the difference between drafting a will and estate planning? A will is one piece of the puzzle, while estate planning is the entire strategy. A will directs who inherits your property, but a comprehensive estate plan ensures your wishes are honored during your lifetime, minimizes legal complications, and protects your family after your death.
???? If you want to go beyond a simple will and build a complete estate plan, contact Gertsburg Licata’s Estate Planning team today. Our attorneys will create a tailored strategy to safeguard your legacy.
