Free guide · U.S. estate-planning basics

A will and a living trust often work together.

Each has a different job. The right combination depends on your state, assets and family circumstances.

What a will does

A will directs who receives the assets it covers after your death. It can name an executor and nominate a guardian for minor children, subject to court approval. A will alone does not avoid probate, and it generally does not control assets that pass by a beneficiary designation or survivorship ownership.

Source: American Bar Association: Introduction to Wills.

What a revocable living trust does

A revocable living trust holds assets under instructions you can generally change during your lifetime while you have capacity. A successor trustee can manage trust assets if you become incapacitated and handle them after death under the trust's terms.

The step that matters: funding. Appropriate assets must actually be transferred into the trust. Signing the document—or listing an asset in this binder—does not transfer that asset. Ask your attorney which assets belong in the trust and how to handle each one.

Source: Consumer Financial Protection Bureau: Revocable Living Trusts.

What neither promises

A trust does not mean there will be no paperwork, expenses or delays.
A revocable trust does not itself eliminate estate taxes.
Assets properly held in a living trust generally avoid probate, but assets left outside may still need it.
A companion pour-over will can direct remaining probate assets to the trust. It does not make those assets skip probate.

Probate procedures and costs vary. Some estates qualify for simpler processes, so a trust is not automatically the best choice for everyone.

Sources: ABA: Revocable Trusts and ABA: The Probate Process.

Five questions for an attorney

Would a will-based plan or a trust-based plan fit my situation?
Who should serve as executor, successor trustee and backup?
Which assets should go into a trust, and who will confirm the transfers?
How should beneficiary designations coordinate with my plan?
What documents do I need for incapacity, and what will the setup and ongoing work cost?

Make your plan easy to find

Use your binder to record where signed originals are kept, who your attorney is, and whom your family should contact. Keep the information current after major life changes.

Organize my document locations

This is general education, not personalized legal advice. The app does not draft legal documents or transfer assets. Consult an estate-planning attorney licensed in your state. Reviewed September 2026.