The first advantage of creating a will over intestacy is that the state will not decide how to distribute your assets. Assets vary greatly, and intestacy rules are a generic prescription that often won’t satisfy the multi-faceted needs of the modern American family.

The second advantage of a will is its cost. The cost of making a will is often much cheaper than creating a trust (although modernly trusts are not only for the wealthy).

Third, you can choose your own executors. Executors administer the estate after your death. If you die without a will, the court will appoint a conservator. A personally chosen executor is more likely to act according to your wishes - such as in dividing up personal property in your home. If you do not choose an executor, state law will determine who has highest priority.

Fourth, a will is a good way to transfer guardianship of your children. This keeps the state from appointing a guardian that may not be in the best interest of the family.

Fifth, a will does not operate until the death of the testator. A trust, on the other hand, requires administration by the trustee to fund it. This includes actions like establishing a trust bank account, and transferring title of property to the trust fund.

Sixth, after the period of probate closes creditors may not be able to go after the assets of the estate.

Even though a will has several advantages over intestacy, wills are not the favored method of transferring estates in modern times because of their many disadvantages when compared to trusts. Do not stop reading! See the next article - Disadvantages of Wills - for more.