Do I Need a Trust?
A revocable living trust keeps out of probate what would otherwise go through it: real estate and accounts with no beneficiary designation; it also keeps the estate private and puts a successor in place for incapacity. Where every asset passes by title or designation, there is little probate for a trust to avoid.
A revocable living trust is a legal document that holds your assets during your lifetime and distributes them to beneficiaries after death without going through probate. You maintain full control as the trustee and can modify or revoke the trust at any time. Learn more about how a revocable living trust works.
Several situations signal that a trust makes sense: you own real estate (especially in a state with expensive probate like California or Florida), your estate exceeds your state's small-estate threshold, you have minor children, a blended family, or beneficiaries with special needs. People who want privacy (probate is public) or who want a plan for incapacity (a trust provides for asset management if you cannot make decisions) also benefit.
Real estate is one of the strongest reasons to create a trust. Without a trust, your home must go through probate to transfer ownership. If you own property in multiple states, your heirs may face probate in each state. A trust avoids this entirely.
Probate costs 4% to 8% of the estate value in attorney fees, executor fees, and court costs depending on the state. On a $500,000 estate, that is $21,210-$38,748 your heirs pay out of pocket. Those are fees a revocable trust avoids — SimplyTrust builds one online in about 15 minutes.
Yes, a "pour-over will" works alongside your trust to catch any assets not transferred into the trust before death. Without one, those assets go through probate and distribute according to your state's intestacy laws instead of your wishes. Most trust packages include a pour-over will for this reason. You can create a free Pour-Over Will with our document builder.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn more
Serious Diagnosis
A serious diagnosis changes priorities. Healthcare proxies, financial powers of attorney, and the documents that ensure your wishes are honored.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: a will, living trust, pour-over will, both powers of attorney, living will, and TOD deed.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Codicil to a Will
Add, revoke or replace provisions of your will and republish the rest, signed as your state requires for a will.
Tools for Planning Your Estate
Free tools for planning your estate: what a will or trust costs, whether you need a trust or TOD deed, and how documents are signed.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
How Much Is the Federal Gift Tax?
Whether a gift owes federal gift tax, how much of the annual exclusion and lifetime exemption it uses, and whether Form 709 is due.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
How Much Life Insurance Do I Need?
Calculate your life insurance needs based on income, debts, and family situation.
