Executing a will is a good start, but it is not the endpoint of your estate planning. It takes care of some key issues, such as appointing a guardian for young children. It lets you direct how you want your possessions distributed. A simple will does not offer any tax strategies for your estate. There are a number of other possible consequences you may not want if you have not gone further than writing a will as part of your estate planning. These might include the following:

• Your heirs could wind up fighting with creditors in probate court to get their hands on your assets.

• Probate costs can reduce the size of your estate.

• Your financial assets may be frozen until the estate is settled.

• Your will could be contested.

• Some of your property, such as insurance policies with beneficiaries and real estate held jointly, would not be covered by your will.

• Your will is in the public domain.

• Your heirs could face federal estate taxes upward of 46 percent on assets inherited from you. State inheritance or death taxes may also apply.

• Without a health care proxy or living will, a will cannot address your care if you become incapacitated or incompetent.

You need a thorough, comprehensive plan to cover your health care issues, the distribution of your assets, and more, depending on your individual circumstances.