Estate planning is one of the most important things you might do in your lifetime. Yet many people neglect estate planning when it should be a big priority.
Caring.com says that based on a 2025 survey, only 24% of people have a will, while 13% reported having a living trust. And there’s a reason wills have long been a more popular estate planning tool than trusts.
Put simply, wills are talked about a lot, so people are more familiar with them. On a basic level, you probably know that a will is a document where you state your final wishes. You may not have heard of a trust or be familiar with how one works.
And also, when you hear the word “trust,” you might assume that it’s an estate planning tool that only the wealthy can benefit from. In reality, though, plenty of people can benefit from having a trust. You may find that your heirs are better off with trust administration instead of going through the process of probate.
The benefits of dealing with trust administration over probate:
When you have a will, once you pass away, that will has to go through a legal process called probate. Probate is a court proceeding. Administrative tasks related to your will, like the distribution of assets, have to be approved.
Not surprisingly, probate can be very time-consuming. Court processes are often subject to delays. This means that your beneficiaries could have to wait a long time to get the assets that are left to them.
Probate can also be stressful and expensive. The longer the process takes, the more court and legal fees you might incur. And that’s something your loved ones will have to deal with at a time when they’re also mourning a big loss.
With a trust, a designated trustee is tasked with administering your estate after you pass away. As long as you choose a trustee who’s responsible, a trust administration could take a lot less time to distribute your assets. That’s because your estate won’t be subject to a court’s timeline or schedule.
Also, the costs associated with administering a trust can be far less substantial than the cost of going through the probate process. This doesn’t mean there won’t be any legal fees involved. However, they may be less than a probate proceeding with the court, leaving your heirs with more of your estate at the end of the day.
There’s the matter of privacy to consider as well.
If you use a will to leave assets to your heirs, it becomes a matter of public record. You read that correctly — any person could find out the contents of your will, along with your beneficiaries’ personal information.
If you don’t want to subject your heirs to an invasion of privacy at a time when they’re grieving and trying to get your estate settled, then a trust could be a better choice. A trust does not have to go through probate, and therefore, the contents of that trust can remain private.
Are there any drawbacks to having a trust?
At this point, we’ve covered the fact that trusts can be simpler and less expensive to administer, and that with a trust, your heirs might receive their inheritance much sooner. Plus, a trust can protect your family’s privacy. So is there a drawback to using a trust over a will?
One thing to consider is the up-front costs. It can be more expensive to put a trust in place than to use a will. However, think about it this way. A trust can be a lot less expensive to administer. So it’s really a matter of who you want paying those legal fees. Do you want to pay more to set up a trust, or burden your loved ones with larger legal fees in the course of going through probate and getting assets out of your estate?
This doesn’t mean that a trust is for everyone. Whether it’s right for you depends on a number of factors, including the specific assets you expect your loved ones to inherit. But in many ways, administering a trust is much easier overall, so that’s something to keep in mind when you do your estate planning.
At The Mendel Law Firm, L.P. in Houston, an estate planning attorney can help you assess your options for leaving an inheritance to the people who are most important to you. Whether you decide to use a will versus a trust, we’re here to support you every step of the way and help you find the best solution. Call our office today at 281-759-3213 or contact us online to discuss all of your estate planning needs.
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