Estate planning is about more than documents; it’s about protecting the people you love and ensuring your wishes are carried out with clarity. Many Florida families begin by asking whether they need a will, a trust, or both. At E.P.P.G. Law of St. Johns, Attorney Heather Maltby and her team walk clients through these options with care, compassion, and personalized attention.
This article will help you understand how wills and trusts differ, why families often use both, and what factors to consider as you make decisions for your estate.
What Is a Will?
A will, formally called a “last will and testament” is a written document that explains how your property should be distributed after your passing. A will is often the foundation of an estate plan because it allows you to put your intentions in writing and ensure that your family has guidance during a difficult time.
It also allows you to:
- Name an executor to oversee your estate.
- Nominate guardians for minor children (subject to court approval).
- Express final wishes for personal items or charitable gifts.
When Might a Will Work Well?
A will may be a good fit if your estate is relatively straightforward, you want to name guardians for children, or you prefer a simple document that outlines your wishes.
What Is a Trust?
A trust is a legal arrangement that holds property for the benefit of your chosen beneficiaries. Unlike a will, a trust can take effect during your lifetime and continue after your death. This makes trusts highly versatile tools for managing, protecting, and transferring wealth.
Types of Trusts Commonly Used in Florida
There are many kinds of trusts, but a few are especially useful for Florida families:
- Revocable Living Trust: Lets you retain control of your assets during your life while providing for a smooth transfer after death.
- Irrevocable Trust: Generally cannot be changed once established, though some may offer tax and asset protection benefits depending on your circumstances.
- Testamentary Trust: Created through a will and activated only after your passing.
When Might a Trust Work Well?
A trust may be ideal if you own real estate in multiple states, want to minimize the need for probate, or wish to control how and when heirs receive their inheritance.
Key Differences Between Wills and Trusts
Understanding the differences between wills and trusts can help you decide which tool, or combination, best matches your goals. While both documents are designed to protect your assets and loved ones, they operate in distinct ways and may complement each other.
Here are some of the most important differences:
| Feature | Will | Trust |
| Effective Date | After death | During life and after death |
| Probate | Required in most cases | Can help avoid probate if properly funded |
| Privacy | Becomes public record | Generally provides greater privacy |
| Control | Directs asset distribution once | Can provide ongoing management |
| Guardianship | Nominates guardians for children (court approval required) | Cannot nominate guardians |
Do You Need Both a Will and a Trust?
It’s common for people to ask whether they must choose between a will and a trust. In reality, many families benefit from having both. Each serves a different purpose, and together, they can create a more complete plan.
- A trust can provide privacy and help avoid probate when properly funded.
- A will covers assets not included in the trust and allows you to nominate guardians for minor children.
This combined approach offers flexibility, protection, and peace of mind.
Common Misconceptions About Wills and Trusts
Because estate planning can feel overwhelming, many myths surround wills and trusts. Clearing up these misunderstandings helps families make more informed choices.
“A Will Avoids Probate”
This is one of the most common myths. A will must go through probate, which is the court process of validating the document.
“Trusts Are Only for the Wealthy”
Trusts can be useful for many families, even those without large estates. They are not limited to high-net-worth individuals.
“One Document Is Enough for Everyone”
Estate planning is deeply personal. The right combination of documents depends on your family dynamics, assets, and long-term goals.
Factors to Consider When Choosing Between a Will and a Trust
Selecting the right planning tool is not a one-size-fits-all decision. Instead, it depends on what matters most to you and your loved ones. When meeting with a wills and trusts lawyer in St. Augustine, FL, you’ll likely discuss:
- The size and complexity of your estate.
- Whether you have minor children or dependents with special needs.
- Your privacy preferences.
- Whether avoiding probate is important to you.
- How and when you want heirs to receive assets.
Key Takeaways
Planning for the future doesn’t need to be stressful. With the right support, you can feel confident knowing your wishes will be carried out.
- Wills outline your wishes and nominate guardians but must go through probate.
- Trusts allow assets to be managed privately and may help avoid probate if properly funded.
- Many families benefit from using both tools together.
- Choosing the right approach depends on your family, assets, and goals.
- A compassionate estate planning attorney can help guide you through the process.
Work with a Wills and Trusts Lawyer in St. Augustine, FL
Even with plenty of research, deciding between wills, trusts, or both can feel daunting. That’s why working with an estate planning attorney is so valuable. A lawyer provides more than legal documents; they offer clarity, guidance, and reassurance throughout the process.
At E.P.P.G. Law of St. Johns, Attorney Heather Maltby and her team take time to listen, explain options clearly, and create personalized plans designed for peace of mind. Request a consultation today to find out if a will or trust is best for you.
References: Forbes: Which Is Best For Your Estate Plan: A Will Or Trust?, and The Motley Fool: Living Trust vs. Will, and MarketWatch: The Top 3 Excuses People Make to Put Off Estate Planning.