Wills and probate have both advantages and disadvantages, including:

• Wills

  • Advantages: Wills can be easily changed while you're alive and competent. They also allow you to specify who inherits your assets, including family, friends, or charitable organizations. 

  • Disadvantages: Wills must go through probate, which can be costly and time-consuming. Wills also don't allow for long-term property management or conditions on inheritance.