Estate Planning Guide
Living Trust vs Will: What's the Difference?
Both protect your family, but they work very differently. Here's what you need to know to make the right choice.
The short answer
A will tells the court how to distribute your assets after you die — but it goes through probate (6-18 months, public, expensive). A living trust transfers assets directly to your beneficiaries, bypassing probate entirely. If you own a home, a trust is usually the better choice.
How they compare
| Will | Living Trust | |
|---|---|---|
| Goes through probate? | Yes — 6-18 months in court | No — transfers directly |
| Privacy | Public record | Completely private |
| Cost to settle | 3-8% of estate in fees | Minimal — no court fees |
| Time to settle | 6-18 months | Weeks |
| If you're incapacitated | Doesn't help — need separate docs | Successor trustee takes over |
| Can be contested? | Yes — in probate court | Harder to contest |
| Upfront cost | Lower ($0-300) | Higher ($500-2,000) |
What is a will?
A will is a legal document that says who gets your stuff after you die. It names an executor (the person who carries out your wishes) and specifies how to distribute your assets.
The catch: a will only takes effect after you die, and it must go through probate court. A judge reviews the will, validates it, and oversees the distribution of assets. This process typically takes 6-18 months and costs 3-8% of the estate in legal and court fees.
Everything in probate becomes public record. Anyone can look up what you owned and who inherited it.
What is a living trust?
A living trust is a legal container that holds your assets while you're alive and transfers them directly to your beneficiaries when you die — no court involved.
You create the trust, transfer your assets into it (your house, bank accounts, investments), and name yourself as trustee. You maintain complete control. Nothing changes day-to-day.
When you die, your successor trustee (the person you named) distributes assets according to your instructions. No probate, no court, no public record. Your family gets their inheritance in weeks, not years.
Which do you need?
You probably need a trust if you:
- • Own a home (even if you still have a mortgage)
- • Have assets worth more than $50,000
- • Want to keep your estate private
- • Want your family to avoid probate delays
- • Have minor children (trust can manage their inheritance)
- • Want protection if you become incapacitated
A will alone might be enough if you:
- • Don't own real estate
- • Have minimal assets
- • Don't mind your estate going through probate
The big misconception
Most people think: "I have a will, so I'm covered." But a will doesn't avoid probate — it just tells the court what you want. Your family still goes through the same slow, expensive, public process.
If you own a home, a will alone isn't enough. A trust is how you actually protect your family from the probate system.
Do you need both?
If you have a trust, you should also have a "pour-over will." This is a simple backup document that catches any assets you forgot to put in your trust and directs them into the trust after your death.
Mantle includes a pour-over will automatically with every trust — so you're covered either way.
Ready to create your trust?
Mantle makes it easy. Answer a few questions, sign with an online notary, and your trust is complete — all in about 30 minutes.
Get Started →Available in California and Texas. More states coming soon.