Should I Do a Will or Trust?

When It Makes Sense

• Good fit: You have a modest estate, few assets, and want a straightforward way to name beneficiaries and appoint a guardian for minor children.
• Good fit: You own property in multiple states or have concerns about privacy, and you want to avoid the public probate process.

When You Should Avoid It

• Warning sign: Your estate is very small and the cost of setting up a trust outweighs any potential benefits.
• Warning sign: You are not comfortable managing a trust, or you lack a trusted person to serve as trustee, which could lead to administrative complications.

Pros and Cons

Pros

• A trust can keep your estate out of probate, speeding distribution and maintaining privacy.
• A will allows you to name guardians for minor children and is generally cheaper and easier to create.

Cons

• Creating and maintaining a trust typically involves higher legal fees and ongoing administrative work.
• A will does not avoid probate, which can be time‑consuming, costly, and public.

Decision Checklist

• Do you have assets that could benefit from probate avoidance or privacy protection?
• Will you need to name a guardian for minor children, and does a will handle that best for you?
• Are you prepared for the potential costs and administrative responsibilities of a trust?

Alternatives to Consider

For some estates, a combined approach works well: a simple revocable living trust for the bulk of assets plus a small will (often called a “pour‑over will”) to catch anything not transferred into the trust. Another option is to use beneficiary designations on retirement accounts and life insurance, which bypass probate without a trust.

Final Recommendation

If your estate is modest and you primarily need to name guardians or direct a few assets, a well‑drafted will may be sufficient. If you own significant property, wish to keep matters private, or want to avoid probate delays, a revocable living trust is worth exploring. In either case, consult an estate‑planning attorney to tailor the solution to your unique situation and ensure compliance with state laws.