Will and trust planning plays a vital role in protecting your assets, your loved ones, and your final wishes. In the United States, a will is a legal document that outlines how your property should be distributed after your death. It also allows you to appoint guardians for minor children and designate an executor to manage your estate. Without a valid will, state laws determine how your assets are divided — often leading to outcomes that may not align with your preferences.

A trust is a legal arrangement that holds and manages assets on behalf of beneficiaries. Unlike a will, many types of trusts can take effect during your lifetime, offering greater control, privacy, and the ability to avoid probate. A revocable living trust allows you to retain control over your assets and make changes as your circumstances evolve. Irrevocable trusts, while less flexible, can help reduce estate taxes, protect assets from creditors, and support long-term care planning strategies such as Medicaid eligibility.

One of the major benefits of establishing a trust is that it can help your beneficiaries avoid the often lengthy and public probate process. Trusts also allow for more detailed instructions about how and when assets are distributed — a useful feature if you're planning for minor children, individuals with disabilities, or beneficiaries who may need financial oversight. Additionally, trusts can be used to manage charitable giving or preserve family wealth across generations.

Proper will and trust planning requires careful coordination with other aspects of your financial life, including taxes, insurance, and retirement planning. Working with a qualified estate planning professional ensures that your documents are legally sound, up to date, and tailored to your unique goals. By taking action now, you can gain peace of mind knowing your legacy is protected and your loved ones are cared for according to your intentions.