If you are starting to build an estate plan, you have probably heard a lot about wills and trusts. Both tools can pass your money and property to your loved ones after you die, but they do it in very different ways. Understanding the difference between will and trust is important if you want a clear, strong plan for your family in Florida, especially in areas like Palm Beach and West Palm Beach.

This guide explains what is a trust, what a will is, how they work, and why many people use both in one estate plan. It also shows how an estate planning attorney can help you make good choices for your situation.

What is a trust?

A trust is a legal arrangement that holds your assets for the benefit of other people. Instead of you owning the assets in your own name, the trust owns them. You create rules that say who will receive those assets and when.

Simply, a trust works like this:

• You place assets into the trust

• You choose someone to manage the trust

• You list who will benefit from the trust and under what conditions

Because the trust is treated as its own legal “bucket,” the assets inside it often avoid probate court in Florida. This can save time, protect privacy, and may lower some costs tied to your estate.

Key people in a trust

When you create a trust, a few key roles are involved:

• Grantor: the person who creates the trust and transfers assets into it

• Trustee: the person or company that manages the trust assets

• Beneficiary: the person or people who receive the assets from the trust

In many estate planning situations, the grantor also serves as the initial trustee while they are alive and able, and then names a backup trustee to step in later.

What is a will?

A will is another important part of an estate plan. A will is a legal document that explains what should happen to your assets after you die. It can also do something a trust cannot: it can name guardians for your minor children or dependents.

A will usually:

• Lists who should receive your property

• Names a person (called a personal representative or executor) to manage your estate

• Can spell out your wishes for children, dependents, and even pets

Here is a key difference between a will and a trust: when you sign a will, your assets usually stay in your own name. They do not move into a separate legal “bucket” during your life. Because of this, when you pass away, your family must present the will to the probate court in Florida.

What probate court does

In probate court, a judge:

• Confirms that the will is valid

• Appoints the personal representative

• Oversees the payment of debts and taxes

• Approves the final distribution of assets

This process takes time and is part of the public record.

The main difference between will and trust

To understand the difference between will and trust, it helps to compare a few points:

• Ownership of assets

  • In a trust, the trust owns the assets.

  • In a will, you own the assets in your own name until you die.

• When they work

  • A trust can work while you are alive (and after you die).

  • A will takes effect only after your death.

• Probate court

  • A properly funded trust can help your estate avoid probate court.

  • A will almost always must go through probate court in Florida.

• Privacy

  • A trust is private.

  • A will becomes public once it is filed with the court.

Both tools are useful. The best choice depends on your goals, your family, and your assets in places like Palm Beach and West Palm Beach.

Advantages of using a trust in your estate plan

Choosing to center your estate plan around a trust can offer several benefits.

Faster asset distribution

Because a trust often avoids probate court, your beneficiaries can receive assets more quickly. Large estates going through probate court can take many months or longer. A funded trust usually allows a smoother and faster transfer once the trustee follows the rules you created.

Professional drafting and fewer disputes

In Florida, it is strongly recommended that a trust be drafted with the help of an experienced estate planning attorney. This can:

• Reduce the risk of legal mistakes

• Lower the chance of disputes among family members

• Help your instructions stand up if someone challenges them

Careful drafting now may mean fewer legal costs later and more value passed to your beneficiaries.

Management while you are still alive

A trust is not only about what happens after you pass away. With a trust, you can:

• Have a backup trustee ready to manage your assets if you become ill

• Allow the trustee to pay bills tied to your real estate or other assets

• Give clear rules on how to invest and protect trust assets

For many people in Palm Beach and West Palm Beach, this is a major reason to include a trust in their estate plan.

Rules and protections for your assets

A trust lets you set conditions. For example, you can:

• Delay distributions until a child reaches a certain age

• Tie distributions to milestones, such as finishing college

• Spread out payments instead of giving a lump sum

While a trust will not fully shield assets from all creditors during your life, the trustee must follow strict legal duties. Rules from agencies such as the Consumer Financial Protection Bureau guide how trustees manage assets, which adds a layer of protection and oversight.

Advantages of using a will in your estate plan

A will is still an important part of many estate planning strategies, especially in Florida.

Simple and cost-effective to create

A will is often easier and less expensive to set up than a trust, especially for smaller estates. It can be a practical starting point if you are just beginning your estate plan and want basic protection for your family.

Well-suited for smaller estates

For people with fewer assets, a will may provide enough structure. It can:

• Direct who receives your personal property

• Handle simple bank accounts and household items

• Make sure nothing is left entirely up to state law

In these cases, a will can serve as the main tool in your estate plan, especially if your assets in Florida are limited and your goals are straightforward.

Space for personal wishes

A trust focuses mainly on managing and distributing assets. A will can do more than that. A will can:

• Express your wishes for your memorial or burial

• Provide guidance for how you want your personal items given out

• Clarify who should care for your children, dependents, or pets

For many families, these instructions are very important and cannot be fully handled through a trust alone.

Why do many Florida families use both a will and a trust

Even though there is a clear difference between will and trust, they often work best together in one estate plan. A strong plan in Palm Beach or West Palm Beach will usually combine several legal tools.

Example: parents with minor children

Many parents in Florida choose to use both a will and a trust:

• The will names a guardian for the children if both parents pass away.

• The trust explains how and when the children will receive financial support and inherit property.

For example, the trust might say that children receive money for education while they are young, then receive larger distributions when they turn 25 or 30.

Making sure documents do not conflict

If a will and a trust are not coordinated, problems can occur. In some cases, the trust can override the will, because the trust is its own legal entity. If this happens, the court will usually follow the trust instructions.

An experienced estate planning attorney can:

• Make sure your will and trust support each other

• Avoid conflicts between the documents

• Help you title assets correctly so they follow the plan you want

This kind of careful planning helps your loved ones avoid confusion and stress later.

Creating an estate plan that covers all your needs

A strong estate plan is more than a single document. It is a set of tools that work together toward your goals. This may include:

• A will

• One or more trusts

• Powers of attorney

• Health care directives

Having a will or a trust alone can be helpful, but using both often gives you more control, flexibility, and protection. This is especially true for families with real estate, investments, or children in Florida, Palm Beach, and West Palm Beach.

Working with an estate planning attorney can help you:

• Understand the difference between will and trust clearly

• Decide which tools fit your situation

• Keep your documents up to date as your life changes

Talk with the attorneys at Doane & Doane

If you are ready to build an estate plan that truly protects your family and reflects your wishes, the attorneys at Doane & Doane in West Palm Beach, Florida are here to help. Their team can review your goals, explain the difference between will and trust in plain language, and design a plan that uses each tool in the smartest way.

Contact Doane & Doane to discuss a will, a trust, or a full estate planning strategy. With the guidance of an experienced estate planning attorney, you can protect your assets, reduce stress for your loved ones, and create an estate plan that gives you real peace of mind.