Wills vs. Trusts: Which One Is Right for You?

Planning for the future is one of the most meaningful gifts you can give your loved ones. When it comes to estate planning, two of the most common tools are wills and trusts — but many people don’t fully understand the difference between them.

At Rob Owings Law, we help individuals and families in Maryland, Pennsylvania, and Washington, D.C. create estate plans that protect their assets and ensure their wishes are honored. Here’s a clear breakdown of what makes wills and trusts different — and how to decide which option fits your goals.

What Is a Will?

A will is a legal document that outlines how your assets should be distributed after your death.

Key features of a will:

Takes effect after death: A will has no legal authority until you pass away.
Names beneficiaries: It identifies who will inherit your property, money, or belongings.
Appoints guardians: A will can name guardians for minor children.
Requires probate: A will typically must go through probate, a court-supervised process that can take time and involve legal fees.
Public record: Once filed with the probate court, a will becomes part of the public record.

A will is often a good fit for people who have straightforward estates or want to ensure guardianship provisions for their children.

What Is a Trust?

A trust is a legal arrangement that allows you to transfer assets to a trustee — a person or institution — who holds and manages those assets for your beneficiaries.

Key features of a trust:

Takes effect during your lifetime: Unlike a will, a trust can go into effect as soon as it’s created and funded.
Avoids probate: Assets held in a trust generally do not go through the probate process, allowing for a faster and more private transfer.
Can provide ongoing management: A trust can distribute assets over time, which can be especially useful if beneficiaries are minors or need guidance.
Can offer tax benefits: Some trusts are structured to reduce estate taxes or protect assets from creditors.
Private: Trusts are not filed with the court, so they remain confidential.

Trusts can be more complex and may involve higher upfront costs to set up — but they often save time, stress, and money for your family later.

Key Differences at a Glance

Feature	Will	Trust
Effective date	After death	During lifetime and after death
Probate	Required	Usually avoids probate
Privacy	Public record	Private
Asset management	One-time distribution after death	Can be managed over time
Guardianship	Can appoint guardians for minors	Cannot appoint guardians
Complexity	Easier to set up	More complex, requires funding
Cost	Lower upfront cost	Higher upfront cost, but can save later

When a Will Might Be Enough

A will may be the right choice if:

You have a relatively simple estate.
Your beneficiaries are financially responsible adults.
You want to name guardians for young children.
You’re looking for a lower-cost estate planning option.

Even if you choose a trust, a will is still essential as a backup to cover any assets not placed in the trust.

When a Trust May Be Better

A trust might be the better option if:

You want your loved ones to avoid probate.
You own real estate in multiple states.
You have minor children, dependents with special needs, or complex family dynamics.
You want to keep your affairs private.
You’re concerned about minimizing estate taxes or protecting assets.

Why Many People Use Both

In many cases, the best solution isn’t choosing between a will and a trust — it’s using both together. A will can serve as a “safety net” for any assets not in your trust, while the trust manages your primary estate.

Get Help Crafting the Right Plan for You

Every family and every estate is different. That’s why it’s important to work with an experienced attorney who can tailor an estate plan to your specific needs.

At Rob Owings Law, we offer personalized estate planning services, including:

Wills and living wills
Revocable and irrevocable trusts
Powers of attorney
Advance medical directives
Multi-state estate planning

You’ll work directly with Attorney Rob Owings, not just a staff member, ensuring clear communication and a plan that truly fits your life.

📍 Serving Maryland, Pennsylvania, and Washington, D.C.
📞 Call (443) 977-8640 or visit www.robowingslaw.com to schedule a consultation today.

Final Thought

Whether you choose a will, a trust, or a combination of both, the most important step is to take action. A clear, legally sound estate plan protects your assets, your family, and your legacy.

Rob Owings Law is here to make that process clear and stress-free.

Get in touch