Wills vs. Trusts: Which One Do You Really Need?

When it comes to estate planning, one of the most common questions people ask is whether they need a will, a trust, or both. It’s a smart question, and an important one. The right answer depends on your specific goals, the type of assets you own, and how you want your estate handled when you are gone. Making the wrong choice, or failing to plan altogether, can leave your loved ones dealing with unnecessary court proceedings, unexpected taxes, or prolonged legal battles during an already difficult time. 

A will is a legal document that outlines how your assets should be distributed after your death. It can also name guardians for minor children and specify your final wishes regarding funeral arrangements or debt payments. A will must go through a court-supervised process called succession (known in most states as probate) before any assets can be transferred to heirs. Succession ensures that debts are paid, legal challenges are handled, and your instructions are carried out according to the law. 

A trust, on the other hand, is a legal entity that you create during your lifetime to hold and manage assets. A trust can distribute your assets privately, outside of the succession process, allowing for faster and often less costly transfers to beneficiaries. Trusts can also provide protections that a simple will cannot, such as shielding assets from certain creditors, controlling distributions to young or vulnerable heirs, and maintaining privacy regarding your estate. 

Key differences between wills and trusts include: 

• A will must go through public court proceedings, while a trust generally avoids court involvement altogether 

• A will takes effect only after your death, whereas a trust can operate both during your life and after 

• A trust can offer greater control over how and when heirs receive their inheritances 

• A will is usually simpler and less expensive to set up initially, but may result in higher costs and delays later during succession 

In Louisiana, succession can be particularly complex. State-specific laws regarding forced heirship, community property, and intestate succession can all create complications if your estate plan is incomplete or poorly structured. Even a small estate can encounter unexpected delays if a will is not properly executed or if no will exists at all. For families with blended structures, multiple marriages, or significant real estate holdings, a trust often provides more certainty and fewer opportunities for conflict. 

A common misconception is that trusts are only for the wealthy. While trusts can certainly benefit high-net-worth individuals, they are also valuable tools for anyone who owns real estate, operates a business, has minor children, or wishes to maintain privacy about their estate. Trusts can also help protect special needs beneficiaries, ensure pets are cared for, and even set up charitable giving that continues long after your death. 

Another misunderstanding is believing that simply having a will avoids all legal hassle for your heirs. In reality, a will still requires court proceedings. The succession process in Louisiana can take several months to more than a year, depending on the complexity of the estate, the existence of disputes, and the quality of the estate planning documents. 

• A will alone may lead to delays, public records exposure, and higher court costs 

• A properly funded trust can significantly streamline asset transfer and protect heirs' privacy 

Choosing between a will and a trust is not about choosing right or wrong. It is about choosing the best tool for your specific goals, your family’s needs, and your long-term plans for your assets. The best estate plans often combine both: a trust to manage and transfer most assets privately, and a simple will to catch anything unintentionally left outside the trust. 

If you are unsure what you need, the worst thing you can do is delay. Even a basic plan is better than no plan at all—and the sooner you act, the more options you have to protect the people and causes you care about most. 

Download our Estate Planning Comparison Guide for a clear, side-by-side breakdown of wills and trusts—and find the best strategy for your future.