What Is the Difference Between a Will and a Trust?
April 9, 2025
At Lewis & Van Sickle, LLC, we know that estate planning isn’t just about preparing for the future—it’s about giving peace of mind to our clients and their families.
Many of the people we meet come to us with a common question: “What’s the difference between a will and a trust?”
The truth is that both are essential tools, but they serve different purposes. Knowing which one—or combination—is right for your needs starts with understanding how they work within your broader estate planning goals.
With over two decades of experience and a genuine commitment to helping others, our firm offers practical guidance to those in Green Bay, Wisconsin.
What a Will Does and When It Takes Effect
A will is one of the most familiar estate planning documents. It lays out your wishes regarding how your property should be distributed after your death, who will handle the process (called a personal representative or executor), and who will become guardians to your minor children if needed.
It’s important to know that a will only becomes legally effective upon death. Until that time, it doesn’t control any assets or have legal force. This makes it a solid tool for planning ahead, but not for managing property during your lifetime.
Key features of a will include:
Asset distribution after death: Specifies who gets what and when.
Appointment of a guardian: Names someone to care for minor children.
Nomination of an executor: Assigns someone to carry out your wishes.
Goes through probate: The court oversees the process, which may involve delays or public filings.
As we move into a discussion of trusts, you’ll see how they differ in terms of timing, privacy, and control over assets.
What a Trust Does Differently
Unlike a will, a trust can take effect during your lifetime. It creates a separate legal entity that holds and manages your assets, either for your own use or for the benefit of others. Trusts are often used to avoid probate, control how and when assets are distributed, and provide ongoing support to loved ones under specific conditions.
The most common type is a revocable living trust, which allows us to keep control while we’re alive and then transfer assets seamlessly when we pass away.
Key features of a trust include:
Takes effect immediately: Begins managing assets once it's signed and funded.
Avoids probate: Assets in the trust aren’t subject to court supervision.
Flexible distribution: Allows for detailed conditions on when and how beneficiaries receive property.
Continues after death: Can hold funds for minor children, special needs individuals, or charitable causes.
Trusts play a different role in estate planning. While wills are about directing what happens after death, trusts offer more control during life and beyond. Still, many of our clients find that using both is the best solution for their family.
Comparing Wills and Trusts Side By Side
To make the difference clearer, it helps to see wills and trusts compared directly. We often walk clients through these distinctions to help them decide which approach supports their goals best.
Differences between wills and trusts:
Timing of effect: A will activates only upon death, while a trust can be used during life and after.
Court involvement: A will requires probate; a trust generally avoids it.
Privacy: Wills become part of public court records; trusts remain private.
Asset control: Wills transfer assets all at once; trusts allow for staggered or conditional distribution.
Incapacity planning: A trust can manage assets if you become incapacitated; a will can’t.
Once we’ve walked through these distinctions with our clients, we can then discuss what kind of estate planning approach makes sense based on their family structure, health, and financial goals.
How Probate Affects Wills and Trusts
Probate is the court-supervised process that validates a will and oversees the distribution of a deceased person’s estate. For some, probate may not seem like a big concern. For others—especially those with property in multiple states, minor children, or business holdings—it’s something they’d prefer to avoid.
Probate can involve:
Time delays: It may take months, sometimes over a year, to resolve.
Court fees and attorney costs: These can reduce the value of the estate.
Public records: Everything filed becomes accessible to the public.
Disputes and challenges: Family disagreements may become more heated during probate.
Trusts avoid this process because the trust, not the individual, owns the assets. That means property is passed directly to beneficiaries without court interference, saving time, money, and unnecessary stress.
When a Will May Be Sufficient
While trusts are useful tools, we don’t always need to jump into creating one. In some situations, a will may meet all our estate planning needs—especially for people with smaller estates, limited assets, or simple distribution wishes.
A will might be sufficient if:
You have no minor children
You only own property in one state
You’re not concerned about probate delays
You’re leaving everything to a single beneficiary
You’re just starting the estate planning process
That said, even when a will feels “simple,” it’s still worth sitting down with a lawyer to draft it properly. Online forms often create more problems than they solve, especially when assets are involved that fall outside the will.
When a Trust May Be the Better Option
For clients who want to stay out of court, protect family privacy, or provide more control after their passing, a trust may be the better fit. We take time to walk through this option carefully, especially when clients have significant or complicated assets—or when they simply want to make the process easier on their loved ones.
We often recommend trusts when:
There are multiple beneficiaries or blended families
You want to provide for a child with disabilities
You own a business or real estate in more than one state
You wish to stagger inheritance over time
You’re concerned about privacy or family conflict
In these situations, a trust gives us the flexibility to shape the future more thoughtfully.
What a Pour-Over Will Is
Even when we use a trust as the main tool in an estate plan, we still draft a will. This document is called a pour-over will, and it acts as a safety net for any assets that weren’t transferred into the trust during life.
The pour-over will states that anything in our name at death should be moved into the trust. It won’t avoid probate for those specific assets, but it makes sure everything is gathered in one place and distributed according to our wishes.
This is another reason we always recommend reviewing and updating our estate planning documents regularly. When changes happen—like buying a new property or opening a new bank account—we want to be sure the trust is updated too.
Funding a Trust Properly
Creating a trust is only part of the process. We also need to fund it, meaning we must transfer ownership of our assets into the trust’s name. Without this step, the trust can’t do its job, and those assets may end up in probate.
Common assets that can be placed in a trust include:
Real estate: Deeds must be retitled in the name of the trust.
Bank accounts and investments: These should list the trust as owner or beneficiary.
Vehicles and personal property: Some can be titled to the trust, others listed in a transfer document.
Business interests: Ownership shares or partnership stakes can be assigned to the trust.
We help our clients through this step so nothing is left out. It’s one of the most important—and most overlooked—parts of trust-based estate planning.
How Incapacity Is Handled Differently
One of the reasons many clients choose a trust is the ability to plan for incapacity. Unlike a will, which only works after death, a trust can take over if we become unable to manage our affairs due to illness or injury.
The trust names a successor trustee who can step in, manage property, pay bills, and make decisions on our behalf without the need for a court-ordered guardianship or conservatorship.
This level of control is especially important for those who want to keep family matters private, protect a loved one from making rushed decisions, or reduce legal complications during a crisis.
Combining Both Tools for a Complete Plan
Many of our clients end up using both a will and a trust as part of their estate planning strategy. The trust handles immediate asset management and transfers, while the will serves as a backup and takes care of any loose ends.
When used together, we’re able to:
Cover every asset
Avoid most probate issues
Provide care and structure for children or vulnerable adults
Respond flexibly to changing life circumstances
Make transitions smoother for surviving family members
We take time to learn about our clients, listen to their concerns, and create plans that are tailored to what matters most to them.
Speak to an Estate Planning Lawyer
At Lewis & Van Sickle, LLC, we believe estate planning should never feel overwhelming. Whether you’re thinking about drafting a will, creating a trust, or just want to know where to start, we’re here to help. We serve clients throughout Green Bay, Wisconsin as well as Oconto, Shawano, Kewaunee, and Sturgeon Bay. Call us today to learn more.