Wills and Trust

avoid probate with a trust

⚖️ Wills & Trusts Education Guide

A will and trust give families clarity, protection, privacy, and efficiency in managing the transfer of assets, reducing hassle and conflict. Failing to plan exposes heirs to delays, additional costs, and potential disputes at an already difficult time.

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Who

Who needs a will or trust?
→ Anyone who owns property, has children, or wants to ensure their assets are distributed according to their wishes.
Who benefits?
→ Your spouse, children, grandchildren, and other loved ones who would otherwise face uncertainty and potential conflict.

What

What is a Will?
→ A legal document that outlines how your assets and belongings are distributed after your death. It can also appoint guardians for minor children.
What is a Trust?
→ A legal arrangement where assets are placed into a trust, managed by a trustee, and distributed according to your instructions. Trusts can help avoid probate, reduce estate taxes, and provide ongoing financial management for beneficiaries.

When

When should you create one?
→ The best time is now—whether you are young, starting a family, buying property, or planning for retirement. Life is unpredictable, and estate planning provides security at every stage.

Why

Why is this important?
Without a will or trust, the state decides how your assets are divided (intestate laws).
Families may face costly and time-consuming probate court.
Disputes among relatives are more likely without clear legal instructions.
Wills and trusts provide peace of mind, reduce stress, and protect family wealth.

How

How do you set one up?
Consult an estate planning professional or attorney.
List your assets (home, savings, insurance policies, retirement accounts, etc.).
Choose beneficiaries (who inherits what).
Appoint guardians or trustees if you have minor children.
Sign and notarize documents to make them legally binding.
Store securely (Digital Estate Vault, attorney’s office, or safety deposit box).

✅ Will

Simple, less expensive.

Goes through probate.

Good for guardianship & basic instructions.

✅ Trust

Avoids probate.

Provides privacy & control.

Ideal for larger estates, special needs planning, and wealth transfer.

Pros and Cons of Not Having a Will or Trust

Without a will or trust, families face significant risks and drawbacks

Consequence	Description	Citation
Costly probate	Court-supervised estate process (probate) becomes lengthy, expensive, and public	https://saunderswalsh.com/advantages-of-a-trust-over-a-will-in-texas/
Family conflict	Unclear wishes may lead to legal battles and destroyed relationships	https://www.estateplanningdfw.law/blogs/2025/february/the-hidden-costs-of-not-having-a-will-or-trust/
Delayed inheritance	Heirs may wait months or years for access to assets	https://www.estateplanningdfw.law/blogs/2025/february/the-hidden-costs-of-not-having-a-will-or-trust/
Higher taxes/fees	Absence of planning may increase estate taxes and legal expenses	https://www.estateplanningdfw.law/blogs/2025/february/the-hidden-costs-of-not-having-a-will-or-trust/
Emotional stress	Family must navigate a complex process during grief	https://www.estateplanningdfw.law/blogs/2025/february/the-hidden-costs-of-not-having-a-will-or-trust/
Loss of privacy	Probate makes information about the estate public	https://saunderswalsh.com/advantages-of-a-trust-over-a-will-in-texas/
Loss of control	State law, not the family, decides asset division and guardianship	https://www.riluslaw.com/blog/why-you-need-both-a-will-and-a-trust