When it comes to estate planning, “Do I need a will or a trust?” is one of the most common questions I hear. The answer? It depends on your goals, your family situation, and what you want to protect.
Let’s break it down.
What Does a Will Do?
A last will and testament is a legal document that:
- States who inherits your assets
- Names guardians for minor children
- Appoints someone to carry out your wishes (called a personal representative in Florida)
A will does go through probate, the court-supervised process of distributing your estate.
What Is a Trust?
A revocable living trust is a private legal document that:
- Holds your assets while you’re alive
- Lets you manage or update the trust as needed
- Passes your assets directly to your beneficiaries—without probate
A trust offers more privacy, often quicker distribution, and can be helpful for families with complex dynamics or out-of-state properties.
Pros and Cons
| Type | Pros | Cons |
| Will | Simple, low-cost | Probate required, becomes public |
| Trust | Avoids probate, private, flexible | More upfront cost, more setup work |
Which One Should You Choose?
- If you want something quick and affordable: start with a will.
- If you have significant assets, rental property, or privacy concerns: consider a trust.
- Many people use both: a trust for major assets and a will to handle everything else.
Need help deciding? I walk clients through both options and make recommendations based on your unique situation. Schedule your free consultation today.