Few areas of estate planning generate as much confusion as wills and trusts. Clients regularly come in having read articles, watched videos, or heard advice from friends that mixes half-truths with outright myths. Questions like ” Will vs. Trust, which is better? Do I need a will and a trust, or just a will?” These questions are This article takes an opinionated, experience-based look at the most common misconceptions about wills and trusts-why they persist, and what actually matters when you are making estate planning decisions.
Misconception 1: A Living Will and a Living Trust Are the Same Thing
This is one of the most persistent misunderstandings. People frequently ask whether a living trust is the same as a living will (or vice versa). They are not even close.
A living will addresses medical wishes, such as end-of-life care and life-sustaining treatment. A living trust is a legal structure used to hold and manage assets. Comparing a living will vs. a living trust is like comparing a medical directive to a financial roadmap.
Confusing these documents can leave families without proper authority or clear instructions at critical moments.
Misconception 2: A Living Trust Replaces the Need for a Will
Another common belief is that once you create a trust, you no longer need a will. Searches like “will or living trust” and “last will or living trust” reflect this confusion.
In reality, most people with a revocable living trust still need a will-often called a pour-over will. That is why experienced planners focus on having a will and a trust together, rather than treating it as an either/or decision.
The question is rarely “will or revocable living trust.” The real issue is how the documents work together.
Misconception 3: A Trust Is Always Better Than a Will
Clients often ask, “Is a trust better than a will?” or “Is it better to have a will or a trust?” assuming there is a universal answer.
There is not.
For some people, a simple will is appropriate and cost-effective. For others, a trust provides privacy, probate avoidance, or better control. The correct comparison is estate trust vs. will based on personal circumstances-not blanket rules.
A trust can be powerful, but it is not automatically superior.
Misconception 4: Wills Avoid Probate
Many people believe that having a will means their estate avoids probate. This misunderstanding fuels searches like “difference between a will and a trust” or “difference in trust and will.”
A will does not avoid probate. It directs the probate process. A properly funded trust, on the other hand, can avoid probate for the assets held in the trust.
This distinction is central to understanding trust vs. will and why revocable living trust vs. will comparisons matter.
Misconception 5: Trusts Are Only for the Wealthy
Trusts are often viewed as tools only for high-net-worth families. In reality, many middle-income families benefit from trusts, especially when they own real estate, have blended families, or value privacy.
The question “who needs a trust instead of a will” does not hinge solely on wealth. It depends on goals, family structure, and risk tolerance.
Misconception 6: A Trust Automatically Protects Assets
People frequently associate trusts with asset-protection strategies. While some trusts can provide protection, a standard revocable living trust does not shield assets from creditors.
Asset protection requires nuance. Not all trusts are protective, and assuming otherwise can create a false sense of security.
Misconception 7: Online Trusts and Wills Are Always Enough
The rise of online forms has made estate planning feel transactional. But documents that fail to comply with state law, or that are not properly coordinated, can create more problems than they solve.
Under Wisconsin trust law, proper execution, correct funding, and consistency across documents matter. A poorly drafted trust or will can increase costs and disputes rather than prevent them.
Misconception 8: Choosing Between a Will and a Trust Is the First Step
Many people start by asking, “Should I get a will or a trust?” and assume they must choose immediately. In practice, the first step should be understanding goals, assets, and family dynamics.
Only after that analysis does the comparison of a living trust vs. a will (or a revocable trust vs. a will) become meaningful.
Misconception 9: Trusts Eliminate All Court Involvement
While trusts often reduce court involvement, they do not guarantee zero oversight. Disputes, creditor claims, or improper administration can still bring matters before a court.
That is why trust vs. will comparisons should be grounded in realistic expectations, not promises of total simplicity.
Misconception 10: One Size Fits All
Perhaps the most damaging misconception is that there is a single right answer. Searches like “will vs trust,” “trust fund vs will,” or “is a living trust better than a will” reflect a desire for certainty.
Estate planning is personal. The best plan balances clarity, cost, control, and family dynamics under applicable state law.
A Practical Takeaway
The real difference between a will and a trust is not which document is “better” in theory. It is the combination of tools that best accomplishes your goals.
When people ask whether they need a will and a trust, the most honest answer is often “yes”-but not always in the way they expect. Good estate planning is not about trends or shortcuts. It is about thoughtful decisions made with a clear understanding of how these tools actually work.
Author and Credentials
Kirsten Hildebrand
Founding Attorney, Hildebrand Law Firm, LLC (Milwaukee, Wisconsin)
Kirsten Hildebrand is the founding attorney of Hildebrand Law Firm, LLC, which has served Wisconsin families since 2001. Her practice focuses on practical estate planning, clear legal guidance, and helping clients make informed decisions that protect their assets, their families, and their long-term peace of mind.