What is the Difference Between a Will and a Trust?

Clients often ask me what the difference is between a will and a trust, and it’s an important question. A will is a legal document that outlines who should receive your property after you pass away. It also allows you to name guardians for minor children, which is critical for many families. However, a will only becomes effective after your death and must go through probate—a court process that, in Tennessee, can be time-consuming, public, expensive, and stressful for your loved ones. A revocable living trust, on the other hand, allows you to transfer assets into a legal structure while you’re alive. You remain in control of those assets during your lifetime, and when you pass, if the trust is properly set up, your assets pass directly to your beneficiaries—without going through probate. It’s private, more efficient, and usually much easier on your family. In short, a will takes effect only after death and goes through probate, while a trust works during your lifetime and after, helping your estate avoid probate entirely. Every family’s needs are different, so we’re here to help you choose the right approach for your situation. Please give us a call if you have any questions.