Why a Trust Might Be the Best Decision for Your Estate Plan

When most people think about creating an estate plan, they start with a Will. While a Will is an important legal tool, it does not always accomplish everything families want or need. In many situations, creating a Living Trust may offer a more flexible and protective approach to estate planning.

At The Simone Law Firm, we often help individuals and families across New Jersey understand the full picture of what their estate planning options look like. If you are weighing the benefits of a Living Trust, it is important to know how this tool works, how it differs from a Will, and whether it may be the right decision for your personal circumstances.

What is a Living Trust?

A Living Trust is a legal document that allows you to transfer ownership of your assets into a trust while you are still alive. You maintain control over the assets as the trustee, and you designate a successor trustee to manage or distribute those assets upon your incapacity or passing.

Unlike a Will, which only becomes effective after your death, a Living Trust begins working the moment it is signed and funded. This makes it a powerful tool for those who want to reduce court involvement, protect their privacy, and make the transition of assets as smooth as possible for their loved ones.

Key Living Trust Benefits

Living Trusts provide a number of advantages that can make them the best decision for your estate plan, depending on your goals. Below are some of the most common benefits that lead our clients to choose this route.

Avoiding Probate

One of the most well-known benefits of a Living Trust is the ability to avoid probate. Probate is the legal process through which a Will is validated by the court and assets are distributed. It can be time-consuming, expensive, and public.

Assets that are held in a properly funded Living Trust do not go through probate. This means they can be distributed to your beneficiaries more quickly and without additional court costs. It also avoids unnecessary delays that can burden your family during an already difficult time.

Maintaining Privacy

A Will becomes a matter of public record once it enters probate court. This means that anyone can access details about your assets and who is inheriting them. A Living Trust, by contrast, is a private document. Your estate stays confidential, and the distribution of your assets remains within your family or chosen circle.

For individuals and families who value privacy, this is a key living trust benefit.

Planning for Incapacity

A Will provides no protection if you become mentally or physically incapacitated. If that happens, your loved ones may have to go through the court process to be appointed as your guardian or conservator.

A Living Trust allows you to name a successor trustee who can step in and manage your affairs if you are no longer able to do so. This provides peace of mind and avoids court involvement, delays, and potential disputes during a medical emergency or long-term illness.

Greater Flexibility in Distributions

With a Will, beneficiaries typically receive a lump-sum inheritance once the estate is settled. A Living Trust offers much more control over how and when distributions are made.

You can include detailed instructions, such as:

• Distributing funds over time
• Releasing assets once a beneficiary reaches a certain age
• Providing support for education or specific life events
• Placing restrictions on how funds are used

This level of control can be particularly important for families with young children, loved ones with special needs, or beneficiaries who may need financial guidance.

Reduced Risk of Legal Challenges

Because Living Trusts are managed privately and involve direct administration by a trustee, they are often less vulnerable to legal challenges than Wills. In some cases, family disputes over inheritance can be minimized through clear instructions and the absence of probate court involvement.

When a Living Trust May Be the Right Choice

Not every estate requires a trust. However, a Living Trust may be the right choice if:

• You want to avoid probate for your family
• You own real estate in more than one state
• You have beneficiaries who are minors or need financial oversight
• You wish to keep your estate matters private
• You want protection in case of incapacity
• You are looking for more detailed control over how your assets are distributed

Our role at The Simone Law Firm is to help you evaluate these factors and make sure your estate plan supports your long-term goals.

How a Living Trust Works With a Will

A common misconception is that you must choose between a Will and a Living Trust. In most cases, the best estate plans include both.

For example, we often draft what is known as a “pour-over Will” to work alongside a Living Trust. This document ensures that any assets not formally transferred into your trust during your lifetime will still be distributed according to your trust’s terms.

A Will also serves important functions that a trust cannot accomplish, such as:

• Appointing guardians for minor children
• Naming an executor to handle remaining legal matters
• Covering any loose ends in your estate

In other words, a Living Trust is not always a replacement for a Will, it is a way to enhance and expand what your estate plan can accomplish.

Funding Your Living Trust Properly

Creating a Living Trust is only the first step. In order for your trust to function, it must be properly funded. This means transferring assets into the trust’s name.

This can include:

• Real estate
• Bank accounts
• Investment accounts
• Business interests
• Personal property

At The Simone Law Firm, we guide our clients through the trust funding process so that nothing is overlooked. Without proper funding, even the most carefully written trust may fail to avoid probate or protect your assets.

Let Us Help You Build the Right Estate Plan

Every family’s needs are different. That is why we never take a one-size-fits-all approach. We listen closely, ask the right questions, and develop estate plans that work in practice, not just on paper.

If you are exploring your options and want to learn more about the living trust benefits that may apply to your situation, we are here to help. From initial consultations to ongoing trust maintenance, The Simone Law Firm is committed to supporting your estate planning journey with clarity, care, and confidence.

Contact The Simone Law Firm today to schedule your estate planning consultation.

Let us help you decide whether a Living Trust is the right decision for your future.