Wills & Trusts 101

Which document exists tells you which path lies ahead.

7 min read

In short

A will says who gets what and who is in charge, but it only speaks through probate. A trust holds assets outside that process entirely. Knowing which documents exist tells you which path the months ahead will take. Finding them is job one.

What a will does

Names the executor. Directs who inherits what sat in their sole name. Can name guardians for children.

It does not control assets with named beneficiaries or joint title; those pass on their own, whatever the will says.

That single fact resolves half the family confusion we see.

What a trust does

Holds assets so they pass without court involvement, privately and often faster.

If a living trust exists, the successor trustee steps in and administers it by its own terms, usually without probate.

Only assets actually retitled into the trust are covered. Anything left outside may still need the court.

Where documents hide

The file cabinet and desk. The safe deposit box. The attorney who drafted it.

The county courthouse in states that accept will deposits. Among tax records.

If nothing turns up, the estate is likely intestate, which is a path, not a crisis.

Watch-outs

Never mark, unstaple, or tidy an original will; alterations invite challenges. Courts want the original.
If you find several wills, keep them all. The newest valid one generally controls, but let counsel confirm.

Every situation is different from the last.

Get a path made for your situation