When it comes to estate planning, one of the most common questions we hear is, “Do I need a will or a trust?” In Florida, these two essential estate planning tools serve different purposes, and the right choice depends on your unique circumstances and goals. At The Law Office of Audrey Ehrhardt, we understand how overwhelming these decisions can feel, and we’re here to help you navigate the options with clarity and confidence.

Let’s start with: What is a will? A will is a legal document that outlines how you want your assets to be distributed after your death. It allows you to specify who will inherit your property, appoint guardians for minor children, and name a personal representative (executor) to oversee the administration of your estate. In Florida, a valid will must be signed by the testator (the person creating the will) and witnessed by two individuals.

Last will and testaments are straightforward and cost-effective, making them a popular choice for those with simple estates. However, it’s important to know that assets distributed through a will must go through probate, a court-supervised process that can be time-consuming and expensive. Additionally, wills do not take effect until your death, meaning they cannot address incapacity or manage your assets during your lifetime.

By contrast, you may ask: What Is a Trust? A trust is a legal arrangement that allows you to transfer your assets into a separate entity managed by a trustee. The most common type is a revocable living trust, which you can modify or revoke during your lifetime. Trusts are often used to avoid probate, provide for incapacity, and ensure a smooth transition of assets to your beneficiaries.

Unlike a will, a trust can take effect during your lifetime, allowing your designated trustee to manage your assets if you become incapacitated. Assets placed in a trust do not go through probate, which can save time and money while maintaining privacy for your estate. Trusts are also highly customizable, offering greater flexibility to address complex family dynamics, tax planning, and specific distribution goals.

Let us share a few important distinctions between wills and trusts to consider:

• Probate Avoidance. Assets in a trust avoid probate, while those governed by a will must go through the probate process.
• Incapacity Planning. A trust allows for the management of your assets if you become incapacitated, whereas a will only takes effect after your death.
• Privacy. Trusts are private documents, whereas wills become part of the public record during probate.
• Cost. Wills are generally less expensive to create, but trusts can save your estate money by avoiding probate costs.

You may ask now: Do You Need Both? For many Floridians, the answer isn’t “either-or” but “both.” A comprehensive estate plan often includes both a will and a trust to address different aspects of your needs. For example:

• Use a trust to avoid probate, plan for incapacity, and provide detailed instructions for asset management and distribution.
• Use a will to name guardians for minor children, specify final wishes, and address any assets not included in your trust.

Together, these tools can provide a more complete and effective estate plan tailored to your goals. Deciding between a will, a trust, or both depends on several factors, including the complexity of your estate, your privacy preferences, your goals for incapacity planning, and your desire to avoid probate. Working with an experienced Florida estate planning attorney can help you understand your options and create a plan that works for you and your loved ones.

At The Law Office of Audrey Ehrhardt, we understand that estate planning is deeply personal. Our virtual firm is designed to meet you where you are—saving you time and providing compassionate, expert guidance tailored to your needs. Whether you’re creating your first estate plan or updating an existing one, we’re here to make the process clear, approachable, and effective.

If you’re wondering whether you need a will, a trust, or both, we’re here to help. Schedule your free 30-minute consultation today to discuss your options and create a personalized estate plan that protects your legacy and provides for your loved ones. Call us at 850-933-7399 or visit our website at www.attorney-audrey.com to learn more. Let us help you secure your future with confidence and peace of mind.