A will is simpler and cheaper to write, but it goes through probate, which is public and can take months. A living trust costs more up front and keeps your estate private.
- Choose a will if your estate is simple and you want low cost
- Choose a trust if you own property in more than one state
- Choose a trust if privacy matters to your family
- Either way, add a power of attorney and a health care directive
Review your plan after every major life event: a marriage, a birth, a divorce or a move.
This article is general information, not legal advice for your situation. Laws differ from place to place: talk to an attorney before you act on it.