Trusts vs. Wills: Which Is Better for Protecting Your Assets?
Protecting your hard-earned assets and making sure your loved ones are cared for is one of the most important legal decisions you'll ever make. One of the most common questions individuals ask during the estate planning process is, "Should I set up a trust, or is a will enough?"
The answer isn’t one-size-fits-all. Both trusts and wills are essential estate planning tools, but they serve different purposes and offer different levels of protection, privacy, and flexibility.
At Gierth-Eddy Law Offices PLLC, we work with clients on their estate plans in Kennewick, Washington. We’ll compare trusts and wills in terms of their functions, benefits, and how they work within Washington law.
What Is a Will?
A will, also known as a "last will and testament," is a legal document that outlines how you want your property distributed after your death. It allows you to:
Name beneficiaries for your assets
Appoint a personal representative (executor)
Nominate guardians for minor children
Make specific bequests (gifts of money or property)
Express wishes for your funeral and burial
In Washington State, for a will to be legally valid, it must be:
In writing
Signed by the testator (the person creating the will)
Witnessed by two competent individuals
It’s important to note that in Washington, handwritten (holographic) wills aren’t valid unless they meet all standard legal requirements.
What Is a Trust?
A trust is a legal arrangement that allows a third party, known as a trustee, to hold and manage assets on behalf of beneficiaries according to the terms set by the grantor (the person who creates the trust).
The most commonly used trust in estate planning is the revocable living trust, which allows the grantor to:
Maintain control of assets during their lifetime
Avoid probate upon death
Provide privacy and efficient asset distribution
Provide for incapacity planning
Trusts can also be irrevocable, offering enhanced asset protection and tax benefits but limiting the grantor’s control once established.
What's the Difference Between a Will and a Trust?
To understand which option is better for protecting your assets, let’s explore the major distinctions between trusts and wills.
Probate
Let’s go over how wills and trusts differ in terms of probate:
Wills go through probate, a court-supervised process of distributing your estate.
In Washington, probate can take 6–12 months or longer.
Probate is public, which means your will becomes part of the public record.
It can incur court fees, legal costs, and delays.
Trusts bypass probate entirely.
Assets in a trust can be distributed quickly and privately.
This is one of the main reasons many clients prefer trusts.
In terms of avoiding probate, a trust is typically the more effective tool.
Privacy
Wills and trusts offer different levels of privacy:
Wills are filed with the court and become public documents after your death.
Trusts remain private, with no public disclosure of assets, beneficiaries, or terms.
If maintaining privacy is important to you and your family, a trust is generally the better option.
Incapacity Planning
If your goal is to plan for potential incapacitation, you should be aware of the following key points:
Wills don’t take effect until after death, and they don’t help manage your affairs if you become incapacitated.
Trusts, especially revocable living trusts, allow for smooth management of your assets if you become mentally or physically incapacitated. The successor trustee can step in without needing a court-appointed guardian or conservator
For incapacity planning, a trust offers superior flexibility and support.
Control and Flexibility
Wills and trusts also differ in terms of how much control and flexibility they offer:
Wills provide instructions for a one-time distribution of your estate.
Trusts allow for detailed control over how and when beneficiaries receive assets:
Distributions can be staggered over time.
Conditions can be placed (e.g., college graduation, age milestones).
Trusts can continue for decades, supporting heirs, charities, or special needs individuals.
For individuals who want more control over how their assets are distributed, a trust provides greater flexibility than a will.
Cost and Intricacy
If you’re looking for a straightforward or cost-effective estate planning solution, you should keep the following in mind:
Wills are generally simpler and less expensive to draft initially.
Trusts involve a higher upfront cost and can be more complicated:
Transferring assets to the trust (called "funding" the trust) takes time and legal knowledge.
Maintaining the trust requires diligence.
However, trusts often save money in the long run by avoiding probate and reducing legal fees after death.
When considering long-term efficiency and potential cost savings, a trust may offer better overall value, though a will may be more appropriate for simpler estates.
Creditor Protection and Lawsuits
If protecting assets from creditors or legal claims is a key concern, be aware of the following:
Wills offer little protection against creditors or legal claims after death.
Irrevocable trusts can offer strong protection during life and after death—especially useful in shielding assets from lawsuits, long-term care costs, and estate taxes.
As an additional note, revocable living trusts don’t protect your assets from creditors during your lifetime. Also, certain types of trusts—especially irrevocable ones—are more effective than wills.
Washington State-Specific Considerations
As a Washington-based estate planning law firm, we want to highlight how local laws affect the trust vs. will decision:
Probate in Washington
While probate in Washington is considered more “streamlined” than in other states, it’s still time-consuming and public. Many of our clients prefer to avoid it altogether by using a trust-based plan.
Community Property Laws
Washington is a community property state, which means that spouses jointly own most assets acquired during marriage. This can impact how property is titled and whether a trust or will is the best vehicle for passing it on.
We often recommend joint trusts for married couples or using community property agreements in conjunction with a will for simpler estates.
No State Estate Tax Exemption Portability
Washington has its own estate tax, with an exemption threshold of around $2.193 million as of 2025. This is significantly lower than the federal exemption (~$13.61 million).
Portability of unused estate tax exemption between spouses isn’t available in Washington. Therefore, using credit shelter trusts (a type of irrevocable trust) is often critical for high-net-worth couples.
When Is a Will the Better Choice?
A will may be sufficient if:
You have a relatively small and simple estate
Your beneficiaries are mature and financially responsible
You’re okay with your estate going through probate
You aren’t concerned about privacy
You don’t need incapacity planning through your estate plan
Wills are often appropriate for younger individuals or families who are just starting to build wealth and need basic protections in place, especially if cost is a significant concern.
When Is a Trust the Better Choice?
You should consider creating a trust if:
You want to avoid probate
You own property in multiple states
You value privacy and efficiency
You want more control over how beneficiaries receive assets
You’re concerned about incapacity
You have minor children or beneficiaries with special needs
You want to protect assets from creditors or long-term care expenses
You have a high-value estate subject to the Washington estate tax
Even if you set up a trust, we still recommend having a pour-over will—a safety net document that transfers any remaining assets into your trust upon your death.
Using Both Wills and Trusts
For many Washington residents, the best solution isn’t either/or—it’s both:
A revocable living trust to manage and distribute most of your estate outside of probate
A pour-over will to catch anything not titled in your trust
Durable powers of attorney for finances and healthcare
Advance healthcare directives for end-of-life decisions
This full estate plan makes sure that all your legal, medical, and financial needs are covered during life and after death.
Get Tailored Legal Advice
Whether you're just getting started with estate planning or looking to update an existing plan, Gierth-Eddy Law Offices PLLC is here to help you make informed decisions. With offices in Kennewick and Yakima, we serve clients all over the state of Washington, including Richland and Pasco. Contact us today to start planning for your future.