What is the difference between a will and a living trust?
An online ad said a living trust avoids probate and is better than a will. Do I need one, or is a will enough?
1 lawyer answer
A will sets out who receives your property and who manages your estate, but it usually takes effect through probate — a court-supervised process. A revocable living trust holds assets during your lifetime, and a successor trustee can manage and distribute them after death, often without probate for the assets properly placed in the trust.
Whether a trust is worth it depends on factors such as:
- How expensive and slow probate is where you live
- Whether you own real estate in more than one state or country
- Your wish for privacy
- Planning for incapacity, blended families or beneficiaries who need oversight
A trust only works for assets actually transferred into it, so it requires some follow-through. Many people with trusts still have a simple “pour-over” will as a safety net.
This is general information, not legal advice — speak to a licensed lawyer about your situation.
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