A will and a revocable trust both direct where your assets go after you pass away. However, they differ in when they take effect. A will is only active after you die. A revocable trust (also called a revocable living trust) is active from the moment you create and fund it, and you keep full control over the assets during your lifetime. Which one you choose, or whether you use both, shapes who controls your estate and how it gets distributed.
How does each estate planning tool handle probate?
Probate is the court-supervised process that validates a will and oversees asset distribution. It is a public process, which means your estate details become part of the public record. It can also add time and cost to settling your estate.
A will must go through probate for the assets it governs. A properly funded revocable trust bypasses probate entirely. Assets transfer directly to your beneficiaries, without a court process and without becoming part of the public record.
What happens if you become incapacitated?
A will cannot authorize anyone to manage your assets if you become incapacitated. If that happens, a court may need to step in to determine who manages your assets.
A revocable trust solves this problem directly. A named successor trustee can step in and manage the trust assets without court involvement if you lose capacity.
Which tool gives you more control over your assets?
You can change or revoke either document at any time during your life. However, a revocable trust offers greater control over the management of your assets. While you are alive and healthy, you typically serve as your own trustee, maintaining complete use and oversight of your property. Unlike a will, which can only distribute assets after death, a trust also lets you set conditions on how and when beneficiaries receive their inheritance over time.
Find out which option fits your situation
A will and a revocable trust do not have to be competing options. They serve different purposes and can even work together. For people with significant assets, having both in place can create a more complete structure for your estate.
If you have questions about how these documents work under Georgia law, an estate planning attorney can review your situation and help you determine what makes sense for you.