Would Bitcoin and smart contract make wills irrelevant?

[nitinator]

Currently wills are legal documents that say who gets what once you're 6 feet under.

It costs money to have one done, and to have one executed, and even then the people you intended your stuff for have to face the inheritance taxes and possible red-tape to get what you intended for them.

Using Bitcoin and smart contracts I can potentially move my assets out of the hands of taxation and then pass it to my loved one's the same way some people form Family Trusts today.

So is this the end of the traditional Will?