Top-view of a desk showing the words “Living Trust” replacing “Will,” beside a pencil, plant, and keyboard, symbolizing estate planning decisions between wills and living trusts.

Living Trust vs. Will: Which Is Right for Your Family?

Estate Planning
September 21, 2025•3 min read

You’ve spent a lifetime building memories, savings, and a home, so give your family the gift of certainty, not confusion, when it’s time to settle your affairs.

Imagine your loved ones waking up one morning to find everything already mapped out: who gets the heirloom watch, where the savings go, and how your spouse or children are cared for, without a judge’s gavel or months of paperwork.

Estate planning usually comes down to two main choices:

  • A Will, the simple “instruction letter” you leave behind

  • A Living Trust, the sealed envelope of assets that passes directly to heirs

But what are they and what do you actually need? Let’s break down exactly what each does (and doesn’t) do.

What Is a Will?

Last Will and Testament document with gavel and pen symbolizing legal estate planning and probate process.

Think of a will as a letter that answers one question: “Who gets my stuff?” In it, you name beneficiaries for your home, bank accounts, family keepsake, choose guardians for any children under 18, and/or appoint an executor to carry out your wishes.

Pros of a Will:

  • Fast to set up—often just one document and a few hundred dollars

  • Easy to update as your life changes

Cons of a Will:

  • Probate required: the court process that verifies your will can tie up assets for 12–20 months and cost 3–7% of your estate

  • Public record: anyone can look up what you owned and who inherits it

What Is a Living Trust?

Living Trust and Estate Planning paperwork with fountain pen, representing probate avoidance and asset protection.

A living trust is like sealing your assets in an envelope with clear instructions on who opens it, and when. You:

  1. Draft the trust document naming yourself as trustee (you stay in control)

  2. Retitle assets. Your house, investments, bank accounts into the trust’s name

  3. Name a successor trustee to step in if you pass away or can’t manage your affairs

Pros of a Living Trust

  • Bypasses probate entirely. Assets transfer directly, privately, often within weeks.

  • Built-in incapacity planning. Your successor trustee manages everything if you can’t.

  • Keeps details private. Trust terms don’t become public record

Cons of a Living Trust

  • Higher upfront cost. Typically $1,000–$2,500 to set up

  • More paperwork. You must remember to retitle each asset into the trust

How They Differ

Comparison table showing differences between a Will and a Living Trust across five features: • Court Involvement – Will: Public probate (12–20 months; 3–7% of estate); Living Trust: No probate, assets transfer directly to heirs. • Privacy – Will: Public record of assets and beneficiaries; Living Trust: Confidential, no court filings. • Setup Effort – Will: Minimal, often a single document; Living Trust: Higher, requires drafting trust agreement and retitling assets. • Cost – Will: Low, usually a few hundred dollars; Living Trust: Higher, often $1,000–$2,500. • Incapacity Planning – Will: Not automatic, requires a separate power of attorney; Living Trust: Built-in, successor trustee steps in seamlessly.

Comparison of Wills and Living Trusts
Key differences in court process, privacy, setup effort, cost, and incapacity planning.

Why You Can’t Wait

Every day you delay is a gamble with your family’s future. Life can turn in a heartbeat, and without a will or trust, the people you care about are left to navigate courtrooms, legal fees, and state decisions that may go against everything you wanted.

Probate isn’t just slow. It can eat away thousands of dollars, drain your assets, and drag on for over a year, all while your family is grieving.

The truth is waiting doesn’t protect anyone. It only leaves them exposed. The sooner you plan, the sooner you replace uncertainty with security.

Take the Next Step

“Hope for the best, plan for the rest.”

One clear choice today gives your family a roadmap, and true peace of mind, for tomorrow.

Ready to protect your legacy? Book a free consultation with a Legacy Promises specialist now. We’ll help you choose the plan that fits your family: simple, secure, and always in your control.

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