The Difference Between a Will and a Trust

One of the most common sources of confusion in Estate Planning is the difference between a Will and a Trust.

Many people believe choosing one automatically excludes the other. In reality, they serve different purposes—and for many families, they work together.

What a Will Does

A Will is a legal document that:

• Names who will receive your assets after death
• Appoints a personal representative (executor)
• Names guardians for minor children

A Will only takes effect after death, and it must go through probate—a court-supervised process.

Probate is not always bad, but it is public, can take time, and can add stress for loved ones during an already difficult period.

What a Trust Does

A Trust is a legal arrangement that allows assets to be managed and distributed without probate.

A properly funded Trust can:

• Avoid probate
• Provide privacy
• Allow for smoother management if you become incapacitated
• Control how and when beneficiaries receive assets

Trusts are often associated with wealth, but they are really about control and efficiency—not just dollar amounts.

The Key Differences

Do You Need One or the Other?

That depends on your goals, your assets, and your family situation.

Some families benefit from a simple Will. Others need the added protection and flexibility of a Trust. Many plans include both—a Trust for major assets and a Will to handle anything left outside the Trust.

The most important thing is not choosing the “right” document—it’s choosing the right plan.

Planning Is Personal

Estate Planning is not one-size-fits-all. What worked for a friend, neighbor, or relative may not be right for you.

Understanding the difference between a Will and a Trust is a powerful first step toward making informed decisions—before those decisions are made for you.

If you have been meaning to review or start your Estate Plan, now is a good time to take that first step. Call or text us at 989-872-5601 to schedule an appointment today.