🏛️The Difference Between a Will and a Living Trust—And Which One You Need
📝 Introduction
When it comes to estate planning, one of the most common questions people ask is:
“Should I get a will or a living trust?”
While both are essential legal tools for outlining your wishes after you pass, they serve different purposes. Understanding the difference between a will and a living trust can help you choose the right option—or even both—for your specific needs.
Let’s break down how they compare, when to use each, and how to get started online without a hefty lawyer bill.
⚖️ What Is a Will?
A will, or “last will and testament,” is a legal document that outlines:
• Who inherits your property
• Who becomes guardian of your minor children
• Who will handle your estate (executor)
🟢 Pros of a Will:
• Easy to create and update
• Ideal for simple estate plans
• Names guardians for minors
🔴 Cons of a Will:
• Goes through probate court (can be lengthy and costly)
• Becomes public record
• Doesn’t help manage assets if you’re incapacitated
🏛️ What Is a Living Trust?
A living trust is a legal entity that holds ownership of your assets while you’re alive and distributes them after death—without going through probate.
🟢 Pros of a Living Trust:
• Avoids probate (faster, private, and often cheaper)
• Maintains control during your lifetime
• Helps if you become incapacitated (via a successor trustee)
🔴 Cons of a Living Trust:
• More complex and costly to set up
• Requires retitling assets into the trust
⚔️ Will vs. Living Trust: Key Differences at a Glance
Feature Will Living Trust
Probate Required ✅ Yes ❌ No
Covers Incapacity? ❌ No ✅ Yes
Privacy ❌ Public Record ✅ Private
Guardians for Minors ✅ Yes ❌ Use with a will
Effective When? After death Immediately (can be managed while alive)
🧠 Which One Do You Need?
✅ You may want a Will if…
• You have minor children and need to name a guardian
• You have a small estate
• You’re looking for a simple, affordable plan
✅ You may want a Living Trust if…
• You own real estate or multiple high-value assets
• You want to avoid probate and keep your affairs private
• You want someone to manage your finances if you become incapacitated
💻 How to Create a Will or Trust Online—Without Hiring a Lawyer
Great news: You don’t have to spend thousands with an attorney to get your estate plan in order. Today, you can create a legally valid will or trust online—in as little as 20 minutes.
🛠 Recommended Tools: “Everything Living Trust” has a complete Estate Plan for a Fraction of What an Attorney Charges!
My friend John R Clarkson, JD Owner/Founder of Everything Living Trust can help complete your Estate Plan. Click the link below!
• 👉 Create your estate plan online with Everything Living Trust
💡 Pro Tip: After completing your documents, don’t forget to have them notarized. AJS Notary Mobile can help you notarize your will or trust from the comfort of your home or office.
✅ Final Thoughts
Whether you choose a will, a living trust, or both, taking action today ensures that your family, assets, and legacy are protected tomorrow. Don’t leave these important decisions up to the courts.
Start building your estate plan today with one of our trusted online partners.
📌 Need help notarizing your documents?
Contact AJS Notary Mobile LLC at (847) 201-4741 or ajsnotarymobile@gmail.com. We make notarization simple and stress-free.
📣 Disclosure
Some of the links in this post are affiliate links. This means we may earn a small commission—at no cost to you—if you make a purchase through these links. We only recommend tools we personally trust and believe will help our clients.