Will vs. Trust: Which Option is the Better Choice for You?
When people start thinking about estate planning, one of the first questions is: “Do I need a will or a trust?” Both are tools designed to make sure your wishes are honored, but they work in very different ways. The challenge is that trusts are often misunderstood—and in many cases, people jump into them without realizing the risks or ongoing responsibilities.
What Exactly Is a Will?
A will is the most straightforward estate planning document. It spells out who should receive your assets, names guardians for minor children or pets, and can include final arrangements. After death, the will usually goes through probate, which is simply the legal process of carrying out those instructions.
Probate often gets a bad reputation, but for most families, it’s a fairly routine process. In simple estates, the executor usually just files paperwork with the probate court. Sometimes it’s done entirely online or by mail, without ever stepping into a courtroom.
Benefits of a will:
Simple and affordable to create
Designates guardians for children and pets
Ensures your assets are distributed according to your wishes
Downsides of a will:
Probate is required, which takes time (though usually minimal hassle)
How Does a Trust Work?
A trust, by contrast, goes into effect the moment it’s signed and funded. It can manage your assets during your lifetime and after your death, and it’s often promoted as a way to avoid probate. Trusts also offer more control over how and when assets are distributed, and they can provide privacy that a will alone does not.
But here’s the part that people often overlook: a trust only works if it’s properly funded. That means retitling your home, updating deeds, changing account ownership, and making sure every asset is correctly transferred. If even one step is missed, the trust may not actually protect those assets at all. Worse, mistakes—like retitling a house incorrectly—can lead to higher taxes or other unintended consequences.
Benefits of a trust:
Can avoid or minimize probate
Greater control over asset distribution
Keeps your estate private
Downsides of a trust:
Complex to set up and maintain
Requires ongoing work, like retitling property and updating accounts
Mistakes can create tax burdens or leave assets unprotected
The Big Misconceptions
The biggest myth is that a trust is always “better” than a will. While trusts can be powerful for large or complex estates, many people create them and never fully fund them. In those cases, the trust doesn’t actually work—and the family ends up in probate anyway. By contrast, a will is a simple safeguard: even if nothing else is in place, your wishes are still on paper and legally enforceable.
So, Which One Do You Need?
For some people—especially those with significant property, multiple homes, or complex family arrangements—a trust may be the right tool. For others, a straightforward will covers everything that truly matters. Sometimes a combination makes sense, like using a “pour-over” will to back up a trust. But for many families, starting with a will is the easiest, lowest-risk step toward peace of mind.
The Bottom Line
Too many people get caught up in the idea that probate is something to fear while overlooking the cost, effort, and potential pitfalls of setting up a trust. Trusts are valuable in the right circumstances, but they’re not the default solution for everyone.
A will, on the other hand, is affordable, effective, and ensures your wishes are honored. The real danger isn’t probate—it’s having no estate plan at all, leaving those decisions to the state. For most people, the smart first step is simply to put a will in place.