Planning for the future is one of the most important steps you can take to protect your loved ones. But when it comes to estate planning, many people in Sarasota ask the same question: Do I need a will or a trust?

The answer depends on your goals, the size of your estate, and how you want your assets to be managed and distributed. Let’s break down the differences between wills and trusts, when you might need one (or both), and how Florida law shapes the decision.

What Is a Will?

A will is a legal document that outlines how your property should be distributed after your death. Under Florida law, a will must be signed and witnessed according to specific rules to be valid.

With a will, you can:

Name beneficiaries for your property
Appoint a guardian for minor children
Choose a personal representative (executor) to manage your estate

However, it’s important to understand that wills in Florida generally must go through probate, the court-supervised process of validating the will and settling the estate. Probate can be time-consuming and sometimes costly, depending on the size and complexity of your estate.

What Is a Trust?

A trust is a legal arrangement where you transfer ownership of assets to be managed by a trustee for the benefit of your chosen beneficiaries. Florida recognizes a wide range of trusts, including revocable living trusts, which allow you to retain control during your lifetime and make changes if needed.

Trusts offer several advantages, such as:

Avoiding probate: Assets in a trust generally pass directly to beneficiaries without court involvement.
Privacy: Unlike probate records, trust details usually remain private.
Flexibility: You can specify how and when assets are distributed.
Protection: Trusts can help safeguard assets from creditors or ensure they are used for specific purposes.

Do You Need a Will, a Trust, or Both?

For many Sarasota residents, the best solution is having both a will and a trust. Here’s why:

If you only have a will: Your estate will likely go through probate, even if you have simple assets. Florida does allow for “summary administration” if the estate is worth $75,000 or less, but many families exceed this threshold.
If you only have a trust: You still need a “pour-over” will to cover any assets not placed into the trust during your lifetime. Without one, those assets may be distributed according to Florida’s intestacy laws.
If you have both: You ensure that your wishes are honored, probate is minimized, and your family is provided for smoothly.

Florida-Specific Considerations

Because estate planning laws vary from state to state, it’s critical to know the rules here in Florida:

Witnessing requirements: Wills must be signed in the presence of two witnesses.
Trust code: Florida has its own Trust Code, which governs the creation, modification, and administration of trusts.
Advance directives: Many people also pair wills or trusts with advance directives to plan for incapacity.

Remote Estate Planning Services

At McNary Law, we understand that coming into an office isn’t always convenient. That’s why many of our estate planning services, including wills, trusts, and advance directives, can be handled remotely. Whether you’re in Sarasota, Bradenton, or Lakewood Ranch, we make the process as accessible and stress-free as possible.

Why Work With Us

Estate planning is not one-size-fits-all. Our team takes the time to understand your goals and craft a plan tailored to your family’s needs. Guided by our core values—honesty, integrity, compassion, and accountability—we work to give you peace of mind about the future.

Take the Next Step

Don’t leave your legacy to chance. The right estate plan can protect your assets, reduce stress for your loved ones, and give you control over how your wishes are carried out.

Click here to send us a message or call us today at 941-345-1662 to schedule a consultation.