Thinking about what happens to your assets, your family, or your personal legacy in the event of death or incapacitation isn’t something most people look forward to. It’s easy to put off, but doing so leaves your estate—and your loved ones—vulnerable to unnecessary stress, delays, or legal complications.

Fortunately, there are legal tools designed to help you plan ahead, protect your interests, and ensure that your intentions are carried out. Two of the most common options are wills and revocable trusts. Understanding the differences—and which might be right for you—can help you make informed decisions about your estate.

The Role of a Will

A will is often the first estate planning tool people think of, but its importance cannot be overstated. In Maryland, if someone passes without a will, their estate is distributed according to state intestacy laws. These laws do not account for personal relationships or individual circumstances and may not align with your wishes.

Having a well-drafted will provides clarity and control. With a will, you can:

• Protect your legacy. You can specify beneficiaries—whether family, friends, or charitable organizations—ensuring that your estate reflects your personal values and commitments.
• Protect minor children. Without a will, the court decides guardianship for your children. A will lets you appoint a trusted guardian, giving you peace of mind that your children will be cared for by someone you choose.
• Provide guidance to loved ones. Losing a family member is emotionally taxing. Clear directives in a will reduce uncertainty and potential conflicts, making an already difficult time more manageable.

While a will establishes how your assets are distributed and who manages them, it generally does not avoid probate—the formal court process through which estates are administered. Probate can be time-consuming, public, and sometimes costly. That’s where trusts, particularly revocable trusts, can offer distinct advantages.

Understanding Revocable Trusts

A revocable trust is a legal entity you create during your lifetime to hold assets. As the grantor, you maintain control over the trust and its assets, and you can modify the terms, add or remove assets, or even dissolve the trust entirely. This flexibility is especially valuable if you anticipate changes in your estate plan over time.

Some key points about revocable trusts include:

• Living vs. testamentary trusts. A living trust takes effect immediately, allowing you to transfer assets into it during your lifetime. A testamentary trust, by contrast, is created through your will and only takes effect after your death.
• Asset protection. While a revocable trust does not shield your assets from creditors during your lifetime, it provides continuity for management of your property and can simplify the transfer of assets upon death.
• Avoiding probate. Because assets in a revocable trust are owned by the trust rather than you personally, they generally do not have to go through probate. This can save time, reduce costs, and maintain your beneficiaries' privacy.
• Flexibility for changing circumstances. Life is unpredictable—marriages, business interests, and family dynamics evolve. A revocable trust allows you to update your estate plan without creating a new will or obtaining court approval.

How a Trust Works

A trust is managed by a trustee, who can be you during your lifetime and someone else after your passing. Trustees have legal obligations to manage the trust prudently, keep accurate records, and communicate with beneficiaries.

Some of the trustee’s responsibilities include:

• Asset oversight. We can manage investments, property, and other assets in accordance with the trust’s terms and best practices.
• Record-keeping. We can maintain detailed records of all transactions, distributions, and communications for transparency and accountability.
• Communication with beneficiaries. We can keep beneficiaries informed about trust activities and address questions or concerns as they arise.
• Tax compliance. We can prepare and file the trust's tax returns, calculate liabilities, and implement strategies to preserve value.
• Distributions. We can ensure that distributions are made in accordance with the trust’s instructions, on schedule, and in compliance with all legal requirements.

Trust administration may seem complex, but professional guidance ensures the process is handled efficiently, minimizing disputes and errors.

Wills vs. Revocable Trusts: Key Differences

While both tools allow you to direct how your assets are managed and distributed, they serve different purposes:

• Probate. A will must go through probate, whereas assets held in a revocable trust typically bypass it.
• Control during life. A revocable trust allows you to manage and adjust your assets throughout your life. A will only takes effect after death.
• Privacy. Wills become public record during probate; trusts generally remain private.
• Flexibility. Revocable trusts offer ongoing flexibility, whereas a will remains static until updated or replaced.

Choosing between the two—or using both—depends on your goals, assets, and family circumstances. For many clients, a combination of a will and a revocable trust provides the most comprehensive estate planning solution.

Situations Where a Revocable Trust May Be Beneficial

A revocable trust is often advantageous for the following estate administration scenarios:

• Complex or high-value estates. Multiple properties, investments, or business interests can benefit from streamlined management.
• Privacy concerns. If you wish to keep your estate plan and distributions private, a trust is preferable.
• Changing family circumstances. Marriages, divorces, or blended families may require adaptable planning tools.
• Estate planning with an emphasis on avoiding delays. A trust allows beneficiaries to access assets more quickly, without waiting for probate proceedings.

Situations Where a Will May Be Beneficial

A will is often the right choice for estate planning in the following situations:

• Simple or modest estates. If your assets are limited or straightforward, a will provides clear instructions without the complexity of a trust.
• Designating guardians for minor children. A will allows you to appoint trusted guardians, ensuring your children are cared for as you wish.
• Specifying charitable gifts or personal bequests. Wills let you leave items, money, or property to friends, family, or charitable organizations in a precise and legally enforceable way.
• Providing clear directives for loved ones. By outlining how your estate should be handled, a will helps reduce uncertainty and potential conflicts among heirs.
• Flexibility for changes in life circumstances. A will can be updated, revoked, or replaced at any time, making it adaptable to changing family, financial, or personal situations.

Working With Experienced Estate Administration Lawyers

Estate planning is not one-size-fits-all. The attorneys at Alex and LaFleur Attorneys at Law LLC have served clients in Towson, Timonium, and the Greater Baltimore Area since 2004. We take a personal approach, understanding your financial situation, family dynamics, and long-term intentions to create a plan tailored to you.

During a consultation, we consider:

• Your assets and how they are currently held
• Your goals for family, charitable, or other beneficiaries
• Potential tax implications of different planning tools
• How to minimize the risk of disputes among heirs

By addressing these factors early, we help ensure your estate plan provides clarity, protection, and peace of mind.

Taking the Next Step

Thinking about death or incapacity can feel overwhelming, but planning ahead is one of the most meaningful gifts you can leave for your loved ones. Whether you choose a will, a revocable trust, or a combination, professional guidance ensures your wishes are clear, legally sound, and effectively implemented.

Call Alex and LaFleur Attorneys at Law LLC at (410) 755-5801 or complete our online form to schedule a free consultation. We can also meet virtually for your convenience, helping you create an estate plan that protects your assets, your family, and your legacy.