Do you need a will trust or both

A will must go through probate before assets get distributed to heirs, whereas a living trust does not. Here are some key differences:


  • Easier to contest
  • Document becomes public at death
  • Slower distribution of assets
  • Estate tax may apply
  • Lower cost

Living trust:

  • Harder to contest
  • Document remains private
  • May be useful before death
  • Faster distribution of assets
  • May shield assets from estate tax (for irrevocable trusts)
  • Higher cost