​Living Trust vs. Will

What a Will Does

A Will allows you to clearly document what should happen after you pass away. It lets you name guardians for minor children, specify who should receive your belongings, and appoint someone to carry out your instructions. A Will generally takes effect after death and typically goes through a court process, which can involve paperwork, time, and costs paid from the estate. While a Will is an essential part of an estate plan, on its own it may require more involvement from the person handling your affairs.

What a Living Trust Does

A Living Trust allows you to place assets into a structure that outlines how they should be managed and distributed. It is commonly used to help avoid probate for assets placed inside it, keep matters more private, reduce delays, and allow someone to step in more easily if needed. A Living Trust can be used during your lifetime and continue after you pass away, helping create a smoother, more efficient process for managing your affairs.

Why Many People Use Both

A will and a living trust are not competing documents. They serve different purposes and often work best together. The will handles guardianship and anything not placed in the trust, while the trust handles how assets are managed and distributed. Using both provides clearer instructions and reduces friction for the person carrying out your wishes.