As estate planning attorneys in Cincinnati, we talk to people every day who want to make sure their loved ones are taken care of after they’re gone. One of the biggest questions we get is: Should I have a Will or a Trust? The answer depends on your goals, but the biggest difference between the two is how your assets are handled after you pass away.
If you have a Will, your estate will go through probate—a court process that takes time and money. If you have a Trust, your assets can be passed directly to your loved ones without the hassle of probate. Let’s break down what that means for you and your family.
What Happens When You Die with a Will vs. Trust?
A Will is a legal document that spells out who should get your assets and who should handle your estate (your executor). While a Will gives you control over where your money and property go, it doesn’t avoid probate—and that’s a big deal.
The Probate Process in Cincinnati, Ohio
Here’s what happens when you pass away with a Will in Ohio:
- The Will is filed with the probate court – Your executor submits the Will to the Hamilton County Probate Court (or the county where you lived).
- The court reviews and validates the Will – The judge ensures it meets all legal requirements.
- Your creditors and beneficiaries are notified – Creditors can make claims against the estate, and beneficiaries are officially informed of what they will inherit.
- Your debts and taxes are paid – Before anyone gets their inheritance, outstanding bills and taxes must be settled.
- Your assets are distributed – After all the legal work is done, what’s left goes to your beneficiaries.
The Downsides of Probate
- It takes time. Probate in Ohio can take six months to over a year, sometimes longer if there are disputes.
- It’s expensive. Court fees, attorney fees, and administrative costs can reduce the amount your loved ones inherit.
- It’s public. Once your Will is filed, it becomes part of public record. That means anyone can look up what you owned and who inherited it.
A Will is better than nothing, but it’s not always the most efficient way to pass on your assets.
What Happens When You Die with a Trust?
A Trust is an estate planning tool that allows you to bypass probate and get your assets directly to your loved ones, quickly and privately.
How a Trust Works After You Pass Away
- Your successor trustee takes over – Unlike an executor, a successor trustee can immediately begin managing and distributing assets.
- Your debts and taxes are handled – Just like with a Will, any outstanding bills must be paid, but there’s no court involvement.
- Your beneficiaries receive their inheritance – Because there’s no probate, this process can happen within weeks instead of months or years.
Why a Trust Might Be a Better Choice
- No probate. Your loved ones avoid court and get their inheritance faster.
- More privacy. Unlike a Will, a Trust doesn’t become public record.
- More control. You can set up rules, like delaying an inheritance until your kids reach a certain age.
- Smoother transitions. If you become incapacitated before passing away, a Trust allows someone you trust to manage your assets without court involvement.
The key to making a Trust work is properly funding it—which means transferring ownership of your assets into the Trust while you’re still alive. A lot of people create a Trust but forget to fund it, leaving their assets stuck in probate anyway.
So, Which One Is Right for You?
If you own a home, have children, or just want to make things easier for your family, a Trust is often the best choice. It avoids probate, keeps your affairs private, and gives your loved ones access to your assets quickly.
That said, some people assume they still need a Will as a backup—but with proper and comprehensive estate planning, a Will isn’t always necessary. There are better tools, like beneficiary designations, transfer-on-death (TOD) deeds, and payable-on-death (POD) accounts, that can help ensure your assets pass seamlessly without the delays and costs of probate.
If you’re unsure what’s best for you, we’re happy to help. Our Cincinnati-based estate planning team can walk you through your options and create a plan tailored to your family’s needs.
Need to Set Up a Trust or Update Your Estate Plan? Let’s Talk.
Estate planning doesn’t have to be complicated. Whether you need a Trust-based plan or want to ensure every asset is set up to avoid probate, we can help you protect your family’s future. Give us a call or schedule a consultation today.
