Most people think having a will means they’re covered. In her latest segment on WGNY with Sunny Joe (filling in for Bob O), Megan Conroy explains why that’s only one piece of a much bigger picture — and walks through what an estate plan actually needs to include.

Megan’s analogy: think of an estate plan as a toolbox, and the will as one tool inside it. You don’t buy a hammer just because you’re an adult and adults own hammers — you buy it because you have a job for it to do. Same with a will. Before asking for one, it’s worth asking: what do I actually need this to accomplish?

What a Will Does (and Doesn’t Do)

A will:

• Distributes your assets after you pass away
• Names an executor to carry out your wishes
• Can designate a guardian or custodian for minor children

But a will only takes effect after death — and only after a court has reviewed and approved it through probate.

Probate sounds more intimidating than it is: it’s simply the court process confirming the will is valid and hasn’t been tampered with. Once approved, the executor gets legal authority to collect assets and start distributing them according to the will’s instructions.

The Part a Will Can’t Cover: While You’re Still Living

A will does nothing for you while you’re alive. If you’re ever incapacitated — hospitalized, in a nursing home, unable to make decisions — you need documents that work now, not after death.

That’s where two other tools come in:

• Financial power of attorney: names who manages your money if you can’t
• Healthcare proxy: names who makes medical decisions if you can’t

These people are your agents. They don’t have to be the same person, and they don’t have to be the same person as your executor either.

Who Actually Needs an Estate Plan?

Megan’s answer: anyone 18 or older, regardless of income or assets.

When a child turns 18 and heads off to college, parents can no longer access their bank accounts or make medical decisions for them without these documents in place. As life changes — more assets, marriage, kids, retirement — the plan should be revisited. Estate planning isn’t a one-and-done errand; it’s something to keep current.

What Happens If You Don’t Plan?

Without a plan:

• There’s no guidebook for your family to follow
• A court decides who your beneficiaries are and how assets are split
• A court proceeding may be required just to give someone authority to act for you if you’re incapacitated

🎧 Listen to the Full Interview

Tune in to hear Megan walk through the basics of estate planning — what a will really does, why powers of attorney and healthcare proxies matter just as much, and who should be thinking about this.

The Bottom Line

No matter what’s already in your toolbox — or whether you’re starting with an empty one — the team at Blustein, Shapiro, Frank & Barone, LLP can help you build a plan suited to your life. Schedule a consultation with Megan Conroy today.