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Estate planning is one of the most important things you can do for your family. Whether you’re thinking ahead or dealing with a recent life event, the two most common tools you’ll hear about are wills and trusts. But what exactly are they, how are they different, and do you need one — or both?
At Mid America Law Practice, we regularly help families across Missouri understand their options and protect what matters most. This guide breaks down the key differences between wills and trusts in plain English, so you can make the right choice for your future. If you still have questions afterward, schedule your free consultation today.
What Is a Will?
A will is a legal document that outlines your wishes for what happens after you pass away. It typically includes:
- Who should receive your assets
- Who will serve as guardian for your minor children
- Who will be the executor responsible for carrying out your instructions
Wills go through a legal process called probate, where a court oversees the distribution of your estate. This process can be public, time-consuming, and sometimes expensive — but for simple estates, it may be sufficient.
Wills are governed by state laws, and Missouri has specific requirements. You can review them directly on the Missouri Courts website.
What Is a Trust?
A trust is a legal arrangement where you (the grantor) transfer property to a trustee, who manages it for the benefit of someone else (the beneficiary). The most common type is a revocable living trust, which:
- Goes into effect while you’re still alive
- Helps you manage your assets during life and after death
- Allows you to avoid probate entirely
- Remains private and can take effect if you become incapacitated
Trusts can be revocable (changeable) or irrevocable (permanent) depending on your goals.
If you’re curious about how trusts work nationally and how they help avoid probate, check out this guide from the Investopedia Living Trust Overview.
Will vs. Trust: Key Differences
| Feature | Will | Trust |
|---|---|---|
| Effective When? | After death | Immediately (once created and funded) |
| Goes Through Probate? | Yes | No (if properly funded) |
| Privacy | Public record | Private |
| Controls Assets During Life? | No | Yes |
| Helps If You’re Incapacitated? | No | Yes |
| Names Guardian for Children? | Yes | No |
| Costs | Less to create | More upfront, but saves later |
When You Might Need a Will
- You want to name a guardian for your minor children
- You have a relatively simple estate
- You’re looking for a more affordable estate planning tool
If you’re just starting your estate plan, a will is a good first step. Schedule a consultation with our team to see if a will covers your needs.
When You Might Need a Trust
- You want to avoid probate court
- You own real estate in multiple states
- You want to keep your financial affairs private
- You have a beneficiary who needs financial oversight
- You want to plan ahead for potential incapacity
Trusts are especially useful for families who want to protect generational wealth or avoid delays after a loved one’s death. If that’s you, contact us today for a custom trust strategy.
Do I Need Both a Will and a Trust?
In many cases, yes. Even if you have a trust, you should also have a “pour-over will.” This acts as a backup to:
- Appoint guardians for your children
- Handle any assets not titled in the trust
Think of the trust as the main tool and the will as the safety net. Book a free estate planning review with our attorneys to build a complete strategy that fits your goals.
FAQ: Will vs. Trust in Missouri
1. Do I still need a will if I have a trust?
Yes. A “pour-over will” is essential for naming guardians and catching assets not in your trust.
2. Which is better — a will or a trust?
It depends on your situation. A will works well for simple estates, while a trust offers privacy, control, and probate avoidance.
3. What is probate and why do people want to avoid it?
Probate is the court process of validating a will and distributing assets. It can be slow, public, and expensive.
4. How much does it cost to set up a trust in Missouri?
It varies, but creating a trust typically costs more upfront than a will — though it may save money in probate fees later.
5. Can I make my own will or trust?
You can, but mistakes can make them invalid. It’s best to work with an experienced estate planning attorney.
6. Can I change my will or trust?
Yes. You can update your will anytime. Revocable trusts can also be amended or revoked.
7. What happens if I die without a will in Missouri?
The state’s “intestate succession” laws determine who gets your assets — which may not reflect your wishes.
8. Do I need an attorney to create a trust?
Yes, especially if your trust involves property, complex assets, or special needs beneficiaries.
9. Is a trust better for blended families?
Usually, yes. A trust can clearly define who receives what, preventing disputes between stepchildren and spouses.
10. How do I get started?
We’re here to help. Schedule a free consultation with Mid America Law Practice and get personalized advice for your estate plan.
Final Thoughts: Protect What Matters Most
Understanding the difference between a will and a trust is the first step toward peace of mind. Whether you need a basic will, a custom trust, or a full estate plan, our team at Mid America Law Practice is here to guide you every step of the way. Don’t leave your legacy to chance — take control of your future.
Schedule your free estate planning consultation now »
Frequently Asked Questions
1. What is the difference between a will and a trust?
A will goes into effect after death and requires probate. A trust takes effect immediately and can avoid probate entirely.
2. Do I need both a will and a trust in Missouri?
Yes, many people benefit from having both. A trust handles assets, while a will names guardians and covers anything the trust doesn’t.
3. What happens if I die without a will in Missouri?
Missouri’s intestate laws decide who inherits your estate — usually starting with your closest relatives.
4. Does a trust avoid probate in Missouri?
Yes, a properly funded trust avoids probate, keeping your estate private and simplifying distribution.
5. Is a will cheaper than a trust?
Wills cost less upfront, but trusts can save money later by avoiding probate fees and delays.
6. Can I make a will or trust without a lawyer?
You can, but legal mistakes are common. An estate planning attorney ensures your documents are valid and effective.
7. Can a trust help if I become incapacitated?
Yes, a living trust allows your trustee to manage your finances if you can’t.
8. Is a will public in Missouri?
Yes, wills become public during probate. Trusts stay private.
9. Who should get a trust instead of just a will?
People with larger estates, blended families, or property in multiple states often benefit more from a trust.
10. How do I choose between a will and a trust?
It depends on your goals and assets. Schedule a free consultation with Mid America Law Practice to get personalized advice.
