Trust vs. Will: Which Do You Need?

“Do I need a will or a trust?” is one of the most common questions Palm Beach families ask—and one of the easiest to get wrong. The two tools do different jobs, and the costliest errors come from assuming one replaces the other. Here is how to choose, framed around the mistakes to avoid under Florida law.

What each document actually does

A will (governed by Florida Statute §732.502) directs who receives your property and names a personal representative—but it only takes effect at death and must pass through probate. A revocable living trust (Florida Trust Code, Chapter 736) holds your assets during life and distributes them after death without court-supervised probate, while remaining fully changeable as long as you are competent.

Mistake #1: Thinking a will avoids probate

It doesn’t. A will is the instruction manual for probate, not a way around it. In Palm Beach County, estates that rely solely on a will go through the probate division of the Fifteenth Judicial Circuit. Depending on the estate, that means either summary administration (for smaller or older estates) or formal administration—both governed by Florida’s Probate Code, Chapters 731–735.

Mistake #2: Creating a trust but never funding it

This is the single most common and damaging error. A revocable trust only controls the assets actually titled in its name. If your Palm Beach condo, brokerage account, or bank accounts are still in your personal name when you pass, they may go through probate anyway—defeating the entire purpose. Funding the trust is not optional.

When a will is enough

For many Palm Beach residents with modest, straightforward estates—especially when assets already pass by beneficiary designation or joint ownership—a well-drafted will plus updated beneficiaries does the job. A will is also the only place to name a guardian for minor children, so parents need one regardless of whether they also have a trust.

When a trust pays off

A revocable living trust tends to make sense when you want to:

• Keep your estate private—probate is a public court process, a trust is not.
• Avoid the time and cost of formal administration on larger estates.
• Plan for incapacity, letting a successor trustee manage assets without a court guardianship.
• Manage property in more than one state—common for Palm Beach snowbirds who also own a home up north and want to avoid a second out-of-state probate.

Mistake #3: Ignoring Florida homestead rules

Your Palm Beach homestead carries special protections and inheritance restrictions under the Florida Constitution (Article X, Section 4). You cannot freely leave it to anyone you like if you have a surviving spouse or minor child. These rules apply whether you use a will or a trust, and getting the titling wrong can trigger unintended results.

Mistake #4: Forgetting the spouse’s elective share

Florida gives a surviving spouse the right to an elective share—30% of the elective estate (§732.2065 and following). You cannot disinherit a spouse with either a will or a trust without proper waivers. Plans that overlook this often unravel in court.

The honest answer for most people: both

Even with a fully funded trust, you generally want a “pour-over” will to catch any stray assets and to name guardians. Wills and trusts are partners, not competitors.

A note for Palm Beach families

The right mix depends on your assets, your family, and Florida’s homestead and elective-share rules. Speak with a licensed Florida estate planning attorney before deciding. This article is general information, not legal advice.