SHOULD I CHOOSE A WILL OR A TRUST?
When planning how to pass on your assets, the most common question for Tennessee families is "Will vs. Trust." Both are valuable tools, but they serve different goals. Here is the breakdown to help you decide which is right for your family.
WILLS: THE STRAIGHTFORWARD START
A Will is a legal document that outlines who receives your assets. It is often simpler to create but comes with a catch: Probate. In Tennessee, a Will must go through a court-supervised process that can last up to a year, is public record, and involves court and attorney fees.
TRUSTS: THE PRIVACY & SPEED OPTION
A Revocable Living Trust is a more robust plan. Its primary benefit is avoiding probate. This means your family can access their inheritance privately and immediately without court interference. It also provides a plan for your care if you become incapacitated (e.g., due to dementia).
WHICH IS BEST FOR YOU?
Choose a Trust if: You want to keep your affairs private, own property in multiple states, want to avoid expensive court costs for your heirs, or want to control how and when heirs receive money.
Choose a Will if: you have a very simple estate, fewer probate assets, or prefer a lower upfront cost and don't mind your heirs handling the probate process later.
“Estate planning can seem complicated, but they explained it in terms that were logical, informative, and easy to understand.” – Vonda
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