There are many ways to control how your property is distributed after your death. Some assets, like life insurance policy proceeds, pass directly to your chosen, named beneficiaries. Other assets, like a home you own in joint tenancy or tenancy by the entirety, legally become the property of your co-owner(s) at your death. You can also establish trusts, which directly supervise and control the distribution and ownership of certain specific assets.
These instruments all help minimize the difficulty of distributing your estate and the tax consequences for your survivors. It may be advantageous for you and your heirs to use one or more of them to pass on some or most of your assets. Even if you have these in place, however, a Last Will and Testament can be very useful. It fills in any gaps to ensure your estate is fully transferred, provides the opportunity for you to directly bequeath specific items, and, most important, appoints a Personal Representative to tie up any loose ends. A skilled attorney can advise you on how to combine these estate planning tools and maximize your legacy.