Living Trusts vs. Wills in Florida: Which One Wins the Match?

In this corner, the classic Last Will and Testament! Easy to create. Familiar. The fan favorite.

And in the other corner... The powerful Living Trust! Avoids probate. Offers privacy. Saves time.

So who wins?

Let’s compare the two, side-by-side and help you figure out which one fits your family best. (Spoiler: Sometimes, it’s both!)

What is a Will?

A will is a legal document that:

• Says who gets your assets when you pass

• Lets you name a guardian for minor children

• Appoints someone to manage your estate (a personal representative)

  
  

Wills go through the Florida probate court, which means the court oversees the distribution of your assets.

Pros:

• Simple to set up

• Cost-effective for small estates

• Lays out your wishes

  
  

Cons:

• Must go through probate

• Becomes public record

• No incapacity planning

What is a Living Trust?

A living trust (also called a revocable trust) is a legal tool that holds your assets while you’re alive and then passes them directly to your beneficiaries when you pass away. You stay in full control as the trustee, and you name a backup person (a successor trustee) to step in if something happens to you.

Pros:

• Avoids probate

• Keeps things private

• Successor can manage assets during your incapacity

• Often faster and smoother for families

  
  

Cons:

• Takes more upfront effort to create

• Usually costs a little more than a Will

• Requires funding (you have to retitle your assets into the trust)

So Which Is Better?

It depends on your situation. Let’s break it down:

If You Want...	Best Option
To name guardians for your kids	Both!
To avoid probate for your home & accounts	Living Trust
A quick and inexpensive solution	Will
Privacy and speed after death	Living Trust
Control in case of incapacity	Living Trust

Can You Have Both?

YES and in fact, many people do!

Here’s how it works:

• Your trust holds most of the assets that have been transferred to it and skips probate.

• Your “pour-over” will acts as a safety net, catching anything left out of your trust.

This setup is ideal for families who want the flexibility of a will plus the protection of a trust.

Final Thought

Estate planning isn’t just for the wealthy. If you own a home, have kids, or just want to make things easier for your loved ones, a will or trust is a loving gift for your future self (and your family).

Need help deciding which makes sense for you?

Let’s talk through it. We’ll help you make a personalized plan that fits your life, your values, and your budget.