Will vs. Trust: Which One Do You Actually Need?
If you've spent any time researching estate planning, you've probably run into this question: Do I need a will, a trust, or both?
And if you're like most people, you left more confused than when you started.
The internet is full of opinions on this topic. Some sites make it sound like everyone needs a trust. Others say a will is fine. A few try to scare you into thinking you'll lose everything if you pick wrong.
Let me clear things up. As an estate planning attorney who's worked with hundreds of families across Utah, Arizona, and Texas, I can tell you: the answer is simpler than you think.
What's a Will? (The 30-Second Version)
A will is a legal document that says three things:
Who gets your stuff when you pass away.
Who's in charge of making that happen (your executor).
Who raises your kids if they're under 18 (your guardian).
That's the core of it. A will only takes effect after you die, and it goes through a court process called probate before your wishes are carried out.
Probate gets a bad reputation, and sometimes it deserves it. But for most modest estates, probate is a manageable process — not the nightmare you've read about online.
What's a Trust? (The 30-Second Version)
A trust is a legal arrangement where you put your assets into a separate "container" (the trust) during your lifetime. You name a trustee to manage those assets, and you spell out who gets them — and when.
The biggest practical difference? A trust can transfer your assets without going through probate.
There are two main types:
Revocable Trust (Living Trust): You create it, you control it, and you can change it anytime. After you pass, assets in the trust transfer to your beneficiaries without probate. This is what most people mean when they say "trust."
Irrevocable Trust: Once you create it, you generally can't change it. These are used for specific purposes like asset protection, Medicaid planning, or reducing estate taxes. Most families don't need one.
The Real Differences That Matter
Let me skip the legal jargon and focus on what actually matters to your family:
Probate
Will: Goes through probate. In most states, this takes a few months and costs a few thousand dollars. Not ideal, but manageable.
Trust: Avoids probate for any assets held in the trust. This can save time and money, especially for larger estates.
Privacy
Will: Becomes a public record once it goes through probate. Anyone can look it up.
Trust: Stays private. Nobody but your family and trustee needs to know what's in it.
Cost to Set Up
Will: Typically $300–500 through an attorney for basic documents. Even less with a quality DIY kit.
Trust: Usually $1,500–3,000+ through an attorney. Significantly more complex to create properly.
Ongoing Maintenance
Will: Minimal. Update it when major life events happen.
Trust: Requires you to actually transfer assets into the trust (called "funding"). A trust that isn't funded is basically useless. You also need to manage it during your lifetime.
When It Takes Effect
Will: Only after you die.
Trust: Can work during your lifetime (especially useful if you become incapacitated).
So Which One Do You Need?
Here's my honest take, based on 13+ years of helping families:
A Will Is Probably Right for You If:
Your total estate is under $500,000
You have a straightforward family situation (married, kids, no major complications)
You mainly want to name guardians for your kids and say who gets your stuff
You don't own property in multiple states
You want to keep things simple and affordable
This describes the vast majority of young families I work with. And for these families, a well-drafted will — combined with powers of attorney and a health care directive — provides solid protection.
A Trust Might Make Sense If:
Your estate is over $500,000
You own real estate in more than one state
You want to avoid probate entirely
You have specific conditions for how beneficiaries receive assets (like staggered distributions for young adult children)
You have a blended family with complex inheritance wishes
You're concerned about asset protection or estate taxes
You Probably Need Both If:
You set up a trust but still need a "pour-over" will to catch any assets you forgot to put into the trust
You have minor children (trusts don't name guardians — only a will does that)
The Big Mistake I See All the Time
Here's something that drives me crazy: people spending $2,000+ on a trust when a $50 will would have been just fine.
I've seen it happen over and over. A young couple with a starter home and a baby gets talked into a revocable living trust by a well-meaning (or sales-motivated) attorney or online service. They spend thousands of dollars, end up with documents they don't fully understand, and never properly fund the trust anyway.
Meanwhile, what they actually needed was a simple will, powers of attorney, and a health care directive.
Don't get me wrong — trusts are wonderful tools for the right situation. But they're not for everyone, and anyone who tells you otherwise is probably trying to sell you something.
The Bottom Line
For most families — especially young families with modest estates — a well-drafted will plus powers of attorney and a health care directive gives you solid, reliable protection. It's simple, it's affordable, and it covers the things that matter most.
If your situation is more complex, a trust might make sense — and I'd encourage you to talk with a local estate planning attorney about your specific needs.
But please, don't let the will-vs-trust debate keep you from doing anything at all. Having a basic will is a thousand times better than having no plan because you couldn't decide whether you needed a trust.
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