Will vs. Trust: Which Do You Need?

Will vs. Trust: Key Differences

A will and a revocable living trust both let you direct how your assets are distributed after death, but they work differently. A will goes through probate — a court-supervised process that can take months and cost thousands in fees. A trust avoids probate entirely, keeping your affairs private and transferring assets faster.

However, a trust costs more to set up and requires you to retitle assets into the trust. For many people with modest estates, a will combined with beneficiary designations and transfer-on-death deeds may be sufficient. Our comparison tool above helps you determine which approach fits your situation.

Learn more about probate costs in your state with our Fee Calculator, or determine what documents you need with our Estate Planning Assessment. For state-specific guidance, see our power of attorney andhealthcare directive guides.