Illustrative attorney-authored format · 5 min read
Will versus trust: questions families often ask
A will and a trust can serve different roles in a coordinated estate plan.
What can a will do?
A will can name an executor, state how certain probate assets should pass, and nominate guardians for minor children. It generally does not control assets that pass by beneficiary designation, joint ownership, or a properly funded trust.
What can a trust do?
A trust can hold and manage property under terms you establish. Depending on the plan, it may help provide ongoing stewardship for beneficiaries, add privacy, or coordinate the management of property after incapacity or death.
The right question is often how they work together
Many plans use both a will and a trust. The appropriate structure depends on the assets involved, family dynamics, goals for beneficiaries, and the law that applies to the plan.