Will vs. Trust: Which One Is Right for You in St. Louis?

Planning for the future is one of the most important gifts you can give your loved ones. When it comes to estate planning in St. Louis, two of the most common tools are wills and trusts. While both are designed to protect your family and your assets, they work in very different ways. Understanding the differences will help you decide which option makes the most sense for your situation.

What Is a Will?

A will is a legal document that explains how you want your assets distributed after you pass away. It can also name guardians for minor children and appoint an executor to carry out your wishes.

Benefits of a Will:

• Simplicity: Easier and less expensive to create initially.
• Guardianship: Allows you to name guardians for children.
• Flexibility: Can be updated as your life changes.

Drawbacks of a Will:

• Probate in Missouri: Wills must go through probate court, which can take months and add unnecessary expenses.
• Public Record: Your will becomes part of the court file, making your estate matters public.
• No Incapacity Protection: A will only takes effect after death, not if you become unable to manage your affairs.

What Is a Trust?

A trust is a legal arrangement where you (the grantor) transfer assets into the trust to be managed by a trustee for your beneficiaries. In Missouri, many families choose revocable living trusts to avoid probate and maintain privacy.

Benefits of a Trust:

• Avoids Probate in Missouri: Assets in a trust pass directly to heirs without court involvement.
• Privacy: Unlike a will, a trust is not public record.
• Incapacity Planning: If you become ill or disabled, your trustee can manage your assets without court intervention.
• Control: You can set conditions, such as delaying distributions until a child reaches a certain age.
• Potential Tax Planning: Certain irrevocable trusts can reduce estate taxes.

Drawbacks of a Trust:

• Upfront Cost: More complex and costly to set up than a will.
• Maintenance: Assets must be properly titled into the trust to work effectively.
• No Guardianship: A separate will is still needed to name guardians for minor children.

Will vs. Trust in St. Louis: Which Should You Choose?

• If your estate is simple — for example, you own a home, some savings, and want to name guardians for children — a will may be enough, especially if you use non-probate transfers.
• If your estate is more complex — multiple properties, a blended family, business ownership, or privacy concerns — a trust is often the better choice.
• Many families in St. Louis actually use both: a revocable living trust for probate avoidance, plus a pour-over will to catch any assets not already in the trust.

Work with a St. Louis Estate Planning Attorney

Every family is unique. That’s why working with an experienced St. Louis estate planning attorney can make the difference between a smooth estate administration and one burdened with unnecessary costs and delays. A skilled attorney can help you:

• Decide whether a will, trust, or combination is right for you.
• Draft documents tailored to your goals.
• Ensure your plan complies with Missouri estate planning laws.
• Provide peace of mind knowing your loved ones are protected.

Final Thoughts

Whether you choose a will, a trust, or both, the most important step is to start planning now. If you live in the St. Louis Metro area, don’t wait until it’s too late—give us a call and we can help you get started.