A will and a trust are both estate planning tools, but they work differently, apply in different situations, and come with different costs and consequences. Most people assume one is better than the other. The real answer depends on what you own, how you want it distributed, and whether avoiding probate matters to you.
What a Will Does
A will is a written document that directs how your assets are distributed after death. In Florida, a will must be signed in front of two witnesses and a notary to be valid under Fla. Stat. § 732.502.
A will does not take effect until death. It does not help with incapacity. If you become unable to manage your affairs while you are alive, a will has no role. You would need a durable power of attorney for that.
Everything that passes through a will goes through probate — the court process that validates the will and oversees distribution. In Florida, formal administration is required for estates over $75,000 in non-exempt assets under Fla. Stat. § 733.702. Probate typically takes 6 to 12 months for straightforward estates, costs money in attorney fees and filing fees, and becomes a public record once filed.
A will covers assets titled in your name alone that have no beneficiary designation. It does not override joint tenancy, POD accounts, life insurance beneficiaries, or IRA beneficiaries. Those pass outside the will entirely.
What a Trust Does
A revocable living trust is a legal entity you create during your lifetime to hold assets. You are typically the trustee while you are alive and capable, meaning you retain full control. At death, the successor trustee distributes assets according to the trust terms — without probate.
Because a trust avoids probate, it is private. Unlike a will, which becomes a public record once filed with the court, a trust stays out of the public record. Administration is also faster and generally less expensive for larger or more complex estates.
A trust also covers incapacity. If you become unable to manage your affairs, the successor trustee steps in without any court involvement. That is something a will cannot do.
For a trust to work, assets must be funded into it — retitled in the trust's name or designated with the trust as beneficiary. An unfunded trust is a planning failure. The document alone is not enough.
Key Differences Side by Side
Probate: A will goes through probate. A trust avoids it entirely for assets that are properly funded into the trust.
Privacy: A will becomes a public record once filed. A trust stays private.
Incapacity: A will does nothing during incapacity. A trust covers it through the successor trustee without court involvement.
Cost to create: A will is simpler and less expensive to draft. A trust costs more upfront and requires proper funding of assets.
Ongoing administration: A trust requires keeping assets properly titled in the trust's name over time. A will has no ongoing maintenance requirements.
Minor children and guardianship: A will is the only place to name a guardian for minor children. A trust cannot do this. Even if you have a trust, you need a will to designate a guardian.
Out-of-state property: If you own real estate in multiple states, a trust avoids ancillary probate in each state. A will would require separate probate proceedings wherever you own property.
When a Will May Be Enough
A will may be sufficient if you are young, single, or have a simple estate with few assets. If your primary assets already pass outside probate through joint accounts, POD beneficiaries, or life insurance, a will may be all you need to cover the remainder.
A will is also necessary if you have minor children and need to name a guardian. You need a will for that regardless of whether you also have a trust.
If privacy and probate speed are not significant concerns for your family, and your estate is modest, Florida's summary administration may make probate manageable. Summary administration is available for estates under $75,000 or when the decedent has been deceased for over two years under Fla. Stat. § 735.201. For smaller estates, that can simplify the process considerably.
When a Trust Likely Makes More Sense
A trust is worth considering if you own real property in Florida, especially if you own property in multiple states. Without a trust, your family may face probate proceedings in every state where you hold real estate.
If your estate is likely to exceed the formal administration threshold, a trust can save significant time and cost. It also makes sense if you want distribution of your assets to remain private, if you have a blended family, a beneficiary with special needs, or circumstances where you want more control over how and when assets are distributed.
If you are concerned about incapacity and want your assets managed seamlessly if you cannot act for yourself, a trust provides that continuity without court involvement. And if minimizing the time and burden of administration for your family is a priority, a properly funded trust is a practical way to accomplish that.
Not sure whether a will or a trust makes sense for your situation?
The answer depends on what you own and what you want to happen. Call before you decide.
You Probably Need Both
Most people with a trust still need a pour-over will. A pour-over will catches any assets that were not transferred into the trust during your lifetime and directs them into the trust at death. Those assets still go through probate, but they end up in the trust. Without a pour-over will, assets that were never funded into the trust pass by intestacy under Fla. Stat. § 732.102 — the state's default distribution rules, which may not reflect what you intended.
A will is also the only place to designate a guardian for minor children. Even if you have a fully funded trust, you need a will to name a guardian. These two documents work together, not as alternatives.
The Cost Question
A will is cheaper to draft. A revocable trust costs more upfront, but can save significantly in probate fees for a larger estate. Florida attorney fees for formal probate administration are set by statute under Fla. Stat. § 733.6171 — 3% on the first $1 million in estate value. A $500,000 estate could generate $15,000 or more in statutory probate fees. A properly funded trust largely eliminates that cost.
The right comparison is not the cost of drafting the documents. It is the total cost to your estate and your family — including time, court fees, attorney fees, and the delay before beneficiaries receive anything. For many people, a trust pays for itself.