Wills vs. Trusts: Which One Helps You Protect What Matters Most?
When it comes to planning for the future, many people know they should have a plan—but get stuck on one big question: Do I need a will or a trust?
While both tools are used in estate planning, they do very different things. Here’s a quick overview to help you understand the basic differences so you can start thinking about what might be the best fit for your family’s needs.
What Is a Will?
A will is a legal document that lays out your wishes after you pass away. It can name who should receive your belongings, who should care for your minor children, and who you trust to carry out your instructions.
Wills don’t take effect until after your death and typically go through a court process called probate—a public and sometimes lengthy procedure where the court oversees the distribution of your assets.
In a nutshell:
- Takes effect after death
- Must go through probate
- Can name guardians for children
What Is a Trust?
A trust is a legal arrangement that holds and manages your assets during your lifetime and after your death. One of the most common types is a revocable living trust, which you can change or cancel at any time while you’re alive.
When properly funded, a trust can help your loved ones avoid probate entirely—saving time, reducing stress, and keeping things private. Trusts can also offer a plan for managing your affairs if you become incapacitated.
In a nutshell:
- Can take effect during your lifetime
- Can avoid probate if properly funded
- Can help manage your assets if you’re unable to do so
Will or Trust: Which One Should You Choose?
That depends on your goals. Some people only need a simple will. Others benefit from the added flexibility and control a trust can provide—especially when it comes to avoiding court processes or protecting loved ones.
The good news? You don’t always have to choose one or the other. Many estate plans use both a will and a trust to cover all the bases.
Final Thoughts
Wills and trusts are tools—not one-size-fits-all solutions. What’s most important is having some plan in place that reflects your wishes and protects your family.
📅 Ready to move forward? Book a Peace of Mind Planning Session and let’s create a plan tailored to your unique needs.
💬 Still deciding? Reserve your seat at our upcoming webinar where we break these concepts down in a simple, approachable way—so you can move forward with confidence.