When it comes to planning your legacy, two of the most common tools are the Living Trust and the Last Will.
While both are important estate planning documents, they serve different purposes — and understanding the differences can help you choose the right path for you and your family.
A Last Will is a legal document that outlines how you want your property distributed after your death.
It can also name guardians for minor children and designate an executor to manage your estate.
✅ Simple to create
✅ Names beneficiaries and guardians
✅ Takes effect only after death
⚠️ Must go through probate — a public, court-supervised process
A Living Trust is a legal entity you create to hold your assets while you’re alive.
You maintain full control over the assets and can change or revoke the trust anytime.
✅ Avoids probate for assets in the trust
✅ Offers privacy and faster distribution
✅ Takes effect during your lifetime and after death
✅ Provides incapacity protection if you can no longer manage your affairs
| Feature | Living Trust | Last Will |
|---|---|---|
| Goes through Probate? | No | Yes |
| Effective When? | During life & after death | After death only |
| Privacy | Private | Public |
| Control During Incapacity? | Yes (successor trustee steps in) | No (requires court process) |
| Costs Upfront | Higher (but saves later) | Lower (but probate costs later) |
✅ A Last Will is simpler but requires probate.
✅ A Living Trust offers privacy, avoids court, and protects you during incapacity.
✅ Trusts can save your family time, money, and stress after your passing.
✅ Many people use both — a trust for major assets like a home and a simple will for personal items.
Want help deciding whether a Living Trust, a Last Will, or both is right for you?
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EZ Living Trust is a division of Strategic Choices Financial, Inc. Neither is a law firm and cannot provide legal or tax advice. The information on this site is for informational and educational purposes only.
Strategic Choices Financial, Inc, dba EZ Living Trust is registered as a Legal Document Assistant in Los Angeles County, CA #987456, and is licensed and bonded.
