Virginia residents who want to leave clear instructions for how to handle their estates should create a will. However, there are limitations as to what a will can do. For instance, it generally doesn't have any say over what happens to property left in a living trust. It also doesn't have any say over what happens to property that is titled in joint tenancy.
If an asset has a beneficiary designation attached to it, the beneficiary will get the asset upon the current owner's death. Typically, assets such as the cash value of a life insurance policy or money in a retirement account goes directly to a beneficiary. Individuals should also understand that wills go through probate and that they are not always the best way to leave funeral instructions. This is because most wills aren't reviewed until after the funeral has already taken place.