I don't see whether it's a "real
will" as mattering that much.
Oh, yes, BIG difference. Wills tend to be treated with respect, ending
up in safety deposit boxes or on file with lawyers or some other
important entities. Plain instructional notes tend to get stuffed into
junk drawers.
Just this year, two of the three folks mentioned in my
will made noises
about giving up (selling off) their collections, and the third publicly
stated a lack of interest in acquiring more machines.
The point is not to actually give away the collection, but to appoint
someone to give it away (or sell it). There is far more flexibility
that way, and if things really go wrong, with maybe the person you
appointed vanishing or dying first, then the courts will appoint
someone when it goes thru the probate system.
Better to have some kind of plan than none, though.
A properly documented plan, even if bare bones.
--
Will