In What Situations May Someone Want to Create a Will Instead of a Trust?

 Posted on January 25, 2023 in Estate Planning and Probate

There is no question that estate planning is a hugely important process that can have significant implications for someone’s life. Estate planning is a great way to provide security and guidance to your loved ones and relatives. If you have done any reading on estate planning, you have probably come across lots of information that discusses why trusts are, in some cases, a better alternative to wills, especially as a preferred means of testamentary transfer. While it is true that trusts do have a lot of benefits that a will cannot provide, it is also true that for some people, creating a will makes more sense than creating a trust. 

In this blog, we will discuss specific situations where creating a will rather than a trust may make more sense. Furthermore, if you are interested in creating a will or would like to inquire about starting an estate plan, contact a knowledgeable estate planning attorney who will work to ensure your rights remain protected throughout the process and that your estate planning goals can be lawfully met.  

When is it Wiser to Create a Will Instead of a Trust?

Let us look at what situations make sense for someone to create a will instead of a trust. These situations include the following:

• If you have minor children – In cases where children are involved or if you are the guardian of children, a will may make more sense than a trust. When someone creates a trust, they will appoint a trustee who will be responsible for managing money and property that will be used by and for the benefit of the children. That being said, in a trust, you are unable to appoint a successor guardian, who is the person who would be tasked with taking care of your children if you are no longer living. To establish a successor guardian, you will likely need to use a will. Although the court is not bound by who a parent selects as their successor guardian, the court will probably defer to what a parent stated in their will. 

• If you have a large estate – When an estate is large, it likely means that the person had several types of property that they owned, which may make it easier to leave something off your trust accidentally. Notably, if something was left out of your trust, that means the trust cannot control that asset. Usually, a standard solution to this is something called a “pour-over will.” This means that anything you own that is not in the trust will be left to the trust upon the person’s death.

• If you have particular wishes for your funeral – If you have desires for what you would like your funeral to be like or would like something, in particular, to be done with your remains, it may be wiser to leave these wishes in a will rather than a trust. These specificities are not legally binding. However, your loved ones may be more willing to comply with your wishes if they are found in a will.

Please note that these are only a few situations where it may be more prudent for someone to create a will rather than a trust in their estate plan. 

Contact a Bexar County Estate Planning Attorney

If you are ready to create an estate plan, contact the skillful San Antonio estate planning lawyers with Geoff Mayfield, Attorney at Law. Call 210-535-0870 for a free consultation.

Source: https://statutes.capitol.texas.gov/Docs/ES/htm/ES.1104.htm