- Does not avoid probate court upon death.
- Does not prevent the court from taking control of your assets if you become incapacitated
- Does not give you as much control as a trust.
However, everybody still needs a WILL to:
- Name an overall executor of any assets outside the trust.
- Empower your executor to deal with insurance, debts, and taxes.
- Have an overall plan consistent with a trust.
- Disinherit some people.
- Name guardians for minors.