Trust vs. Will: What’s the Difference?
A will is a legal document that explains how you want your property, money, and personal belongings to be handled after your death. A trust is a legal arrangement that holds and manages your assets during your lifetime and after, often allowing them to be transferred without probate. The key difference is that a will only takes effect after you die, while a trust can provide benefits right away. Both tools serve important but different purposes in estate planning, and many people use both together to fully protect their loved ones.
Understanding the Basics
What is a Will?
A will, sometimes called a “last will and testament,” is a document that lays out your wishes for what happens after you die. It typically includes:
Instructions on who inherits your property and money
Appointment of an executor to carry out your wishes
Guardianship choices for minor children
Distribution of personal items and family heirlooms
A will must go through probate, the court-supervised process of validating and carrying out the document.
What is a Trust?
A trust is a legal arrangement where you transfer ownership of your assets into the trust during your lifetime. You name a trustee (which can be yourself while you are alive) to manage those assets for the benefit of your chosen beneficiaries.
Trusts can:
Take effect while you are alive (living trust)
Avoid probate, which saves time and legal costs
Provide more privacy since trusts are not public record
Offer more control over how and when assets are distributed
Key Differences Between Trusts and Wills
Feature Will Trust When it takes effect After death During life and after death Covers Property, money, guardianship of children, personal wishes Property and financial assets placed in the trust Probate required? Yes Usually no Privacy Public record Private Cost and complexity Generally less expensive to set up Higher upfront cost, more paperwork Flexibility Easy to update May require more effort to manage Guardianship for minors Yes No Tax and financial planning Limited Can provide benefits in reducing taxes and protecting assets
When a Will Makes Sense
A will is often the right choice if:
You want a straightforward way to state your wishes
You need to name guardians for minor children
You do not own significant property or large financial accounts
You prefer a simple and less costly option upfront
Even if you have a trust, you will likely still need a “pour-over will” to cover anything not placed in the trust.
When a Trust Makes Sense
A trust may be a better fit if you:
Own real estate in more than one state
Want your loved ones to avoid probate delays
Prefer to keep your estate private
Have children or beneficiaries who may need financial guidance or oversight
Want to set conditions on inheritance, like releasing funds only at certain ages or milestones
Trusts can be especially helpful for blended families, business owners, or those with complex assets.
Do You Need Both a Trust and a Will?
For many families, the answer is yes. A trust manages assets and avoids probate, while a will covers guardianship and ensures no asset is left unaccounted for. Together, they provide a complete picture of your wishes.
Think of a will as the map, and a trust as the vehicle that helps your family get where they need to go more smoothly.
Common Misunderstandings
“A trust is only for wealthy people.”
While trusts do help wealthy families, they also benefit everyday people by saving time, reducing costs, and keeping matters private.
“If I have a trust, I don’t need a will.”
Not true. A will is still needed to name guardians and cover assets not placed into the trust.
“Wills and trusts are too complicated for me.”
They can sound intimidating, but with clear guidance, they become manageable. The hardest part is often just starting.
FAQs About Wills and Trusts
Do I need a lawyer to create a will or trust?
You can create a basic will online, but an attorney can ensure everything meets state requirements. Trusts are usually best created with professional help.
How often should I update my documents?
Review them every few years, or after major life events like marriage, divorce, or the birth of a child.
Can I change my trust once it’s created?
Yes, if it’s a revocable living trust. Irrevocable trusts are harder to change and are typically used for tax or asset protection purposes.
Does a will or trust cover everything I own?
Not always. Certain assets, like life insurance or retirement accounts, pass directly to named beneficiaries.
Stories from the Porch
TBD
About Sandy’s Porch
At Sandy’s Porch, we believe that making these choices is less about paperwork and more about care. When my husband and I cared for my mom during her final year, we were buried in legal forms, insurance questions, and estate planning decisions we felt unprepared to handle. We want to make this journey easier for you. Whether you are considering a will, a trust, or both, our resources help you understand your options without judgment or pressure. You’ll find practical checklists, compassionate community, and stories from others walking the same path.
If you are ready to learn more, the Sandy’s Porch community is here to help. Sit with us, take a breath, and explore the resources we’ve gathered to make this process feel less overwhelming and more like an act of love.
10 Helpful Resources for Creating a Will and Trusts
1. Nolo’s Estate Planning Center
Clear, plain-language books and online tools that walk you through wills, trusts, and other estate planning basics without heavy legal jargon.
👉 nolo.com
2. FreeWill
A free online platform to draft a simple, legally valid will, with options to start trusts or connect with estate attorneys if needed.
3. Trust & Will
An approachable online service offering step-by-step guidance for creating wills, living trusts, and guardianship documents.
4. LegalZoom
Affordable online legal services for drafting wills and trusts, with optional attorney review for added peace of mind.
5. Rocket Lawyer
Subscription-based platform offering will and trust templates, plus access to licensed attorneys for legal questions.
6. American Bar Association – Estate Planning Resources
Educational guides plus a directory to help you find qualified estate planning attorneys in your state.
7. AARP Estate Planning Tools
Checklists, articles, and practical advice tailored for older adults and families preparing for the future.
👉 aarp.org/money/estate-planning
8. Hospice Foundation of America – Planning Ahead
Gentle, compassionate resources that explain wills, trusts, advance directives, and end-of-life planning.
9. Everplans
A secure digital vault where you can store your will, trust, and other critical documents, and share access with loved ones.
10. Sandy’s Porch Community & Resources
Our welcoming hub of guides, checklists, and shared stories to help you create a will or trust with clarity and care. At Sandy’s Porch, you’ll find not only tools, but also community and comfort.
👉 [Sandy’s Porch – Resources Hub]
