Senior Associate
When you’re planning for the future, one of the first decisions you may face is whether to create a will, a trust, or both. It’s a common question—and a good one. Both wills and trusts are tools that help you control what happens to your assets and your loved ones after you pass. But they work in different ways. At LaFountain & Wollman, P.C., we help individuals and families across Massachusetts find the right fit for their goals.
What Is a Will?
A will is a written document that lays out your final wishes. It says who gets what, names a guardian if you have minor children, and appoints someone (called the personal representative) to carry out your instructions.
Wills are relatively straightforward to create, and they work well for people who want to:
- Make sure specific items go to particular people.
- Choose who will take care of their kids.
- Name someone they trust to handle their estate.
But wills go through a process called probate. This is a legal process overseen by the court, which ensures your debts are paid and your assets are distributed according to your will. Probate can take several months or longer and becomes part of the public record.
What Is a Trust?
A trust is a legal arrangement that allows you to transfer assets to someone else (the trustee), who manages them for the benefit of others (your beneficiaries). You set the terms, and the trustee follows them.
There are many kinds of trusts, but the most common is a revocable living trust. You can change or cancel it during your lifetime. It goes into effect as soon as it’s signed and funded, meaning you place assets into it.
People often choose a trust because:
- It avoids probate.
- It keeps their affairs private.
- It allows someone to manage their assets if they become sick or injured.
- It helps plan for children or loved ones who need ongoing support.
For example, you might create a trust to hold your house, so it transfers directly to your children without going through court. Or you may want to ensure that funds are distributed gradually to a young beneficiary instead of all at once.
When a Will Might Make More Sense
A will can be a better choice in certain situations. It’s often the right fit if:
- Your estate is small and simple.
- You don’t own real estate outside Massachusetts.
- You mainly want to name guardians and divide personal belongings.
- You’re looking for a more affordable way to put basic plans in place.
Even if your situation is uncomplicated, a properly drafted will ensures that your wishes are honored. We’ll help you put everything in writing clearly and legally.
When a Trust Might Be the Better Choice
A trust is often worth considering when your goals go beyond the basics. You may want to explore a trust if:
- You’d prefer to avoid probate.
- You own property in more than one state.
- You want to protect your family’s privacy.
- You need someone to step in if you’re no longer able to manage your finances.
- You have a blended family or want to control how and when your assets are passed down.
While a trust may require more upfront planning, it can prevent delays, disputes, and extra costs later on. We’ll help you determine whether a trust will serve your goals.
How We Help You Choose
The best plan is one that reflects your unique needs. At LaFountain & Wollman, P.C., we don’t believe in one-size-fits-all documents. We start by listening. Once we understand what matters most to you—whether that’s protecting your kids, making things easier for your spouse, or keeping the process as simple as possible—we’ll guide you toward the right tools.
Sometimes that means a will. Sometimes it’s a trust. Often, it’s a combination of both. We’ll make sure your documents work together and give you the peace of mind that your affairs are in order.
Let’s Build a Plan That Works for You
If you’re unsure whether a will or trust makes more sense for your estate plan, we can help. Planning ahead now can save your family time, money, and stress later. Contact LaFountain & Wollman, P.C. to set up a consultation and take the next step toward protecting what matters most to you.