Wills vs. Trusts: What’s the Difference and Which Is Right for You?

When it comes to estate planning, one of the most common questions people ask is: “Do I need a will or a trust?” The answer depends on your personal circumstances, family dynamics, and long-term goals. At The Tanios Law Firm, P.A., we help individuals and families across Florida make informed estate planning decisions. Whether you’re looking to keep your affairs simple or need a comprehensive plan to manage complex assets and avoid probate, Attorney Alex Tanios can help you understand the key differences between wills and trusts—and determine what’s right for you.

What Is a Will?

A will (also known as a “last will and testament”) is a legal document that directs how your assets should be distributed after your death.

Key Features:

• Names beneficiaries for your assets

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

• Allows you to name guardians for minor children

• Goes through the probate process in Florida, which is court-supervised

Pros:

• Simple and inexpensive to create

• Can be updated or revoked easily

• Suitable for smaller or straightforward estates

Cons:

• Requires probate, which can be time-consuming and public

• Offers no management of assets during your lifetime

• Limited control over how and when assets are distributed

What Is a Trust?

A revocable living trust is a legal entity that holds and manages your assets during your lifetime and distributes them upon your death—without going through probate.

Key Features:

• You (the “grantor”) create the trust and usually serve as the trustee during your lifetime

• You transfer ownership of assets (like real estate, bank accounts, and investments) into the trust

• Upon death, a successor trustee manages and distributes the assets according to your instructions

Pros:

• Avoids probate for assets held in the trust

• Maintains privacy (trusts do not become public record like wills)

• Allows for ongoing management of assets if you become incapacitated

• Can include conditions for distributions (e.g., age-based inheritance, spendthrift protections)

Cons:

• More expensive and complex to set up

• Requires ongoing maintenance (e.g., retitling assets into the trust)

• Does not protect assets from creditors during your lifetime (unless it's an irrevocable trust)

Will vs. Trust: Side-by-Side Comparison

Feature	Will	Revocable Trust
Goes through probate?	Yes	No
Effective during your lifetime?	No	Yes
Names guardians for children?	Yes	No (usually handled in a will)
Controls when assets are given?	Limited	Yes
Public or private?	Public (through probate)	Private
Cost to set up	Lower	Higher
Flexibility	Easy to amend or revoke	Also easy to amend or revoke

How The Tanios Law Firm Can Help

Every estate is unique, and choosing between a will and a trust depends on your personal goals, family structure, and asset profile. At The Tanios Law Firm, P.A., Attorney Alex Tanios takes the time to understand your specific needs and craft a customized plan that protects your legacy and gives you peace of mind.

We can assist with:

• Drafting wills, trusts, and other essential estate documents

• Reviewing and updating existing plans

• Creating durable powers of attorney and healthcare directives

• Helping avoid probate through smart planning

• Educating clients on estate tax considerations, asset protection, and incapacity planning

Start Planning Today with The Tanios Law Firm, P.A.

Don’t wait for a crisis to start planning. Whether you need a simple will or a comprehensive trust-based plan, Attorney Alex Tanios is here to help you make confident, informed decisions. Contact us at 407-276-8229 to discuss your estate planning needs.