Living Trusts vs. Wills: Which Strategy Actually Avoids Probate in 2026?

By Christopher W. Dumm, J.D., Founder & Principal Attorney, The Law Offices of Christopher W. Dumm

A will guarantees your family goes through probate court. A revocable living trust sidesteps that entire legal process. After over two decades of helping families across Missouri, Kansas, Arkansas, and Texas, I’ve watched probate freeze assets for months and turn grieving families into stressed ones.

The difference between these two estate planning tools isn’t just technical. It’s about whether your loved ones face six months of court proceedings or receive their inheritance within days. Let me explain how this actually works.

Dumm Takeaways

• Wills guarantee probate court. Revocable living trusts sidestep it entirely.
• Missouri and Arkansas probate typically costs 3% to 5% of your estate value and takes six to nine months.
• An unfunded trust is worthless. You must retitle assets into the trust’s name for it to work.
• You need both a trust and a pour-over will to catch forgotten assets and name guardians.
• Retirement accounts and life insurance transfer through beneficiary designations, not your trust.
• Blended families, out-of-state real estate, and estates over $150,000 need trusts, not just wills.
• Estate planning isn’t one-and-done. Your plan must evolve as state laws and family situations change.

What Actually Happens During Probate in Missouri and Arkansas

The Six-Month Waiting Period Your Family Will Face

Probate court doesn’t move fast. In Missouri and Arkansas, the probate process typically takes six to nine months minimum. Sometimes it stretches past a year. Your family can’t access most assets during this time. They can’t sell the house, empty bank accounts, or distribute inheritance. Bills keep coming, but the money stays frozen in the estate.

Why Probate Costs More Than Most Attorneys Tell You

The advertised probate fees look manageable until you see the real numbers. Court filing fees start around $300 to $500. Attorney fees typically run 3% to 5% of the estate value. On a $400,000 estate, that’s $12,000 to $20,000 in legal fees alone. Add appraiser costs, publication requirements, and accounting fees. Most families spend significantly more than expected on this legal process.

What Gets Frozen and What Doesn’t When Probate Starts

Not everything stops when someone dies. Life insurance with named beneficiaries pays out immediately. Retirement plans with beneficiary designations transfer directly. Bank accounts with payable-on-death designations bypass probate court entirely. But assets titled in your name alone get frozen. The family home, investment accounts without designations, vehicles, and personal property all wait for the probate court.

I watched a Springfield family unable to access their mother’s checking account for seven months. Her social security checks kept depositing, but they couldn’t pay her final medical bills or funeral costs. The bank account sat frozen until the personal representative received court approval. Meanwhile, creditors kept calling.

How Wills and Living Trusts Actually Work

The Four Things a Will Can Do That Trusts Cannot

Wills serve specific purposes that living trusts simply can’t handle. Only a will lets you name guardians for minor children. Here’s what else wills do uniquely:

• Forgive debts owed to you at death
• Create testamentary trusts that activate after you pass
• Make legally binding funeral arrangement instructions
• Disinherit specific individuals explicitly

What Happens to Asset Ownership When You Create Your Trust

Creating a revocable living trust changes how you own things. You transfer legal ownership from your individual name into the trust’s name. You become the trustee managing assets you already control. Nothing changes in your daily life. You still use bank accounts, sell real estate, and make financial decisions exactly as before.

A 62-year-old couple in Joplin owned a home worth $280,000 and had $150,000 in financial accounts. We retitled everything into their revocable trust in 2020. They still wrote checks from the same bank accounts and refinanced their mortgage two years later. The only difference was the account names now read “Smith Family Trust” instead of “John and Mary Smith.”

Why Your Will Becomes Public Record but Your Trust Doesn’t

Every will filed with probate court becomes a public record anyone can access. Nosy neighbors, estranged relatives, and financial predators can see exactly what you owned and who inherited it. Your estate planning details become public information. A revocable trust avoids this exposure entirely because it never goes through the legal process of probate.

Table: Living Trust vs. Will

Comparison Factor	Revocable Living Trust	Will
Avoids Probate Court	✓ Yes	✗ No
Keeps Estate Private	✓ Yes	✗ No (becomes public record)
Cost to Establish	$2,500 – $4,500	$500 – $1,500
Document Complexity	More complex legal documents	Simpler structure
Ongoing Maintenance Required	Yes (funding and updates)	Minimal
Protects During Incapacity	✓ Yes	✗ No
Time to Distribute Assets	Days to weeks	6-12 months
Creditor Protection	Limited during lifetime	Limited during probate
Flexibility to Change	✓ Yes (revocable anytime)	✓ Yes (until death)
Can Name Guardians for Children	✗ No	✓ Yes
Works for Out-of-State Property	✓ Yes (avoids multiple probates)	✗ No (requires probate in each state)
Best Asset Types	Real estate, bank accounts, investments	Personal property, guardian designations
Tax Implications	No estate tax differences	No estate tax differences
Court Supervision	✗ None	✓ Yes (probate court oversight)
Setup Time Required	2-3 weeks plus funding	1-2 weeks
Professional Fees After Death	Minimal	3-5% of estate value

The Mechanics of How Revocable Living Trusts Sidestep Probate Entirely

Why the Trustee Can Start Distributing Assets Within Days (Not Months)

When you die, your successor trustee already has legal authority over trust assets. No court approval needed. They present your death certificate to banks and investment companies, then immediately access financial accounts. The probate process doesn’t touch anything titled in the trust. I’ve seen successor trustees distribute inheritance checks within a week of death. Compare that to the six-month probate court timeline for wills.

What Changes When a Revocable Trust Becomes Irrevocable at Death

Your revocable living trust lets you change anything during your lifetime. You can add beneficiaries, remove assets, or dissolve the entire trust if you want. The moment you die, that flexibility ends. The trust becomes irrevocable and locked. Your successor trustee must follow your instructions exactly as written. They can’t modify beneficiary designations or change distribution percentages. State laws require them to honor your wishes precisely.

A retired teacher in her early seventies from Bentonville established her revocable trust in 2018 with three children as equal beneficiaries. She changed her mind twice over the next four years, adjusting percentages based on who helped care for her. When she passed in 2023, the trust became irrevocable with her final wishes locked in place. Her successor trustee distributed assets according to those last instructions within two weeks.

Explanation That Changes How People Think About Trusts

Think of your revocable trust as a container you control completely. You put your house, bank accounts, and investments inside this container. You’re still the boss. You can take things out, put things in, or throw away the container entirely. Nothing changes in your daily financial life. When you die, someone you chose takes over as the new boss of that container. They don’t need permission from probate court to open it and distribute what’s inside. That’s the entire concept. No complicated legal jargon needed.

The Assets That Still Go Through Probate Even With a Perfect Trust

What Pour-Over Wills Catch (And Why You Still Need One)

A pour-over will works as your safety net for anything you forgot to put in your revocable living trust. Maybe you bought a car and titled it in your name instead of the trust. Perhaps you inherited money from a relative six months before death. The pour-over will “catches” these assets and transfers them into your trust. You still need probate court for this, but only for the forgotten items.

The Forgotten Bank Account Problem That Costs Families Thousands

I see this mistake constantly. Families create perfect trusts, then open new bank accounts in their individual names. They forget about an old checking account at a different bank. Someone gifts them money that goes into a personal account. These forgotten financial accounts force families into probate court even when everything else avoids it. One overlooked account can trigger the entire probate process your trust was designed to prevent.

A couple in their late sixties from Joplin meticulously funded their revocable trust in 2019. Every asset transferred properly. Three years later, the husband inherited $35,000 from his aunt and deposited it into a new savings account titled in his name only. He passed away six months later. That single forgotten account meant his family faced probate court proceedings despite having a perfectly structured trust for everything else. The probate fees consumed $2,100 of that inheritance.

Why Retirement Accounts and Life Insurance Don’t Need Your Trust

Retirement plans and life insurance policies transfer through beneficiary designations, not your trust or will. You name specific people directly on these financial accounts. They receive the money immediately after death without probate court involvement. Putting these assets into your trust actually creates tax consequences you want to avoid. These accounts already have their own probate avoidance mechanism built in.

Common assets that bypass your trust through direct beneficiary designations include the following items:

• 401(k) and IRA retirement accounts
• Life insurance death benefits
• Payable-on-death bank accounts
• Transfer-on-death investment accounts
• Annuities with named beneficiaries

The Math on Setup Costs vs. What Your Family Saves Later

What You’ll Actually Pay for Trust Creation in Joplin, Springfield, and Bentonville

A comprehensive revocable living trust package typically costs between $2,500 and $4,500 in our service area. This includes the trust document, pour-over will, power of attorney, and healthcare directive. Simple situations cost less. Complex estates with multiple properties or blended families cost more. Most families invest around $3,200 for complete estate planning protection.

Breaking Down Missouri and Arkansas Probate Fees

Missouri and Arkansas probate costs add up quickly. Attorney fees run 3% to 5% of estate value. Court filing fees start at $300. Publication requirements cost another $200 to $400. Appraisals for real estate add $400 to $600 per property. A $300,000 estate typically generates $9,000 to $15,000 in total probate fees your beneficiaries never see.

A retired couple in their early seventies from Bentonville with a $425,000 estate asked about the real numbers in 2022. I showed them the math. Probate court would cost their children approximately $14,500 in legal fees, court costs, and related expenses. Their revocable trust cost $3,400 to establish. The trust saved their family $11,100 plus six months of waiting. They signed the trust documents that week after seeing those numbers side by side.

The 20-Year Cost Analysis Most Attorneys Never Show You

Think beyond immediate costs. A revocable trust you establish today protects your family for decades. Probate fees hit every time someone dies with assets in their individual name. Your estate planning investment happens once. The savings multiply across your lifetime and your spouse’s lifetime. Many families save five to ten times their initial trust investment when comparing long-term probate avoidance against one-time setup costs.

A successful small business owner in his late fifties from Joplin established his revocable living trust in 2003 for $2,800. His wife passed away in 2015, and her share of their assets transferred to him immediately without probate. He updated the trust in 2018 for $500. When he died in 2023, his three children received their inheritance within ten days. Total estate planning cost over twenty years was $3,300. Estimated probate savings across both deaths exceeded $28,000. His children told me their father’s planning was the greatest gift he gave them besides his love.

When Simple Wills Work Better Than Trusts (And When They Absolutely Don’t)

The Small Estate Threshold Rules in Missouri, Kansas, Arkansas, and Texas

Each state sets different thresholds for simplified probate procedures. Missouri allows small estate affidavits for estates under $40,000. Kansas sets the limit at $75,000. Arkansas permits summary administration for estates under $100,000. Texas allows small estate affidavits up to $75,000. Below these amounts, probate becomes much simpler and less expensive.

Family Situations Where Wills Are Actually Sufficient

Simple wills work fine for specific situations. Young couples with minimal assets and young children need wills primarily to name guardians. Single individuals with estates under the small estate threshold don’t need complex planning. People who’ve already titled everything with beneficiary designations or joint ownership can rely on basic wills as backup legal documents.

The Red Flags That Mean You’ve Outgrown a Will-Only Strategy

Watch for these warning signs that signal you need a revocable living trust instead of just a will:

• You own real estate worth more than $100,000
• You have out of state property in multiple locations
• Your total estate exceeds $150,000 in value
• You’re in a blended family with children from previous marriages
• You own a business or professional practice
• You value privacy and want to avoid public record exposure

A widowed teacher in her mid-sixties from Springfield came to see me in 2021 with just a basic will she’d drafted online. She owned a paid-off home worth $195,000, had $80,000 in savings, and held a $150,000 life insurance policy. She thought her modest estate didn’t need trust planning. I explained the life insurance passed through beneficiary designations, but her house and bank accounts would force her daughter through probate court. We established a revocable living trust that transferred those assets immediately. Her daughter later thanked us when she avoided the eight-month probate process her neighbor’s family endured.

Scenarios Where Living Trusts Become Non-Negotiable

1. Blended Families

Blended families create inheritance nightmares with simple wills. You want to provide for your current spouse but ensure your children from your first marriage eventually inherit. A will can’t guarantee this protection. Your surviving spouse could change their will after you die and cut out your children entirely. A revocable living trust locks in your wishes and protects everyone’s inheritance exactly as you intended.

2. When a Business is Involved

Business owners face unique risks when estate details become public record through probate court. Competitors can access your financial information. Customers might lose confidence seeing ownership disputes. Vendors could demand different terms knowing your business is in transition. A revocable living trust keeps your business succession completely private. Your financial situation stays confidential between family members and your successor trustee.

3. Out-of-State Real Estate

Owning property in multiple states creates a probate nightmare. Your family must open separate probate proceedings in each state where you own real estate. That means different attorneys, multiple court filings, and compounded legal fees. A vacation home in Arkansas when you live in Missouri triggers two complete probate processes. A revocable living trust eliminates this problem entirely by holding all properties under one legal entity.

A couple in their late fifties from Joplin owned their primary residence in Missouri plus a lake cabin in Arkansas they’d purchased in 2015. The husband’s father had died the previous year owning property in two states, and the family spent $18,000 on dual probate proceedings that lasted fourteen months. They established their revocable living trust in 2020 specifically to avoid putting their children through that same expensive, time-consuming legal process. Both properties went into the trust, ensuring one smooth transition regardless of which state’s real estate was involved.

4. When a Bank Account or Investment is Involved

Transfer-on-death deeds let you pass real estate directly to beneficiaries without probate court. Missouri and Arkansas both recognize these legal documents. They cost less than trusts and seem simpler. But they only work for real property, not bank accounts or investments. They offer no incapacity protection if you become ill. They can’t handle complex family situations or contingent beneficiaries. A revocable living trust covers everything comprehensively while transfer-on-death deeds solve one narrow problem.

The Biggest Trust Mistake We See Every Month (And How to Avoid It)

Why Half of All Trusts Fail Because of Missing Funding

Creating a revocable living trust document means nothing if you don’t fund it properly. I’ve seen countless families spend thousands on trust creation, then leave all their assets titled in their individual names. An unfunded trust is like buying a safe but leaving your valuables on the kitchen counter. The trust exists, but it owns nothing and protects nobody. Your family still faces probate court because the assets never made it into the trust.

Process to Transfer Assets Into Your Trust

Funding your trust requires retitling each asset from your name into the trust’s name.

1. Contact your bank to retitle checking and savings accounts.
2. File new deeds for real estate at your county recorder’s office.
3. Send trust certification documents to investment companies for brokerage accounts.
4. Update vehicle titles at the DMV if you want.

This process takes time and attention to detail, but it’s what makes your trust actually work.

How to Make Sure Your Bank Accounts, House, and Investments Are Properly Titled

Check every financial account statement you receive. The owner name should read something like “John Smith, Trustee of the Smith Family Trust dated January 15, 2024.” Your house deed should show the trust as the property owner. Investment accounts at places like Charles Schwab & Co. need trust documentation on file. Review these titles annually because new accounts or refinanced mortgages often revert to individual ownership if you’re not careful.

Follow this funding checklist to ensure complete trust protection:

• Bank accounts retitled to trust name
• Real estate deeds recorded with county showing trust ownership
• Investment and brokerage accounts transferred to trust
• Business interests assigned to trust through formal documentation
• Personal property covered through assignment of tangible property

A busy physician in his early sixties from Springfield established his revocable living trust in 2018. He signed all the legal documents, paid his attorney fees, and filed the trust paperwork in his home office. Two years later during an annual review, I discovered he’d never actually funded the trust. His house remained in his individual name. His bank accounts still showed his name only. His investment accounts had never received the trust certification. We spent the next month properly retitling everything, but those two years left his family completely exposed. His trust was worthless until we completed the funding process he’d simply forgotten about.

How The Law Offices of Christopher W. Dumm Helps Families Get This Decision Right

How 27+ Years of Multi-State Experience Changes the Advice You Get

I’ve been practicing estate planning and elder law since 1997 across Missouri, Kansas, Arkansas, Texas, and Virginia. This multi-state licensing means I understand how different state laws affect your trust vs will decision. Missouri probate rules differ significantly from Arkansas procedures. When you work with estate planning attorneys who practice in multiple states, you get advice shaped by seeing how these legal documents work across different jurisdictions and family situations.

The LIFE Program That Keeps Your Estate Plan Current as Laws Change

Estate planning isn’t something you do once and forget. That’s why we created The LIFE Program for ongoing maintenance. You receive updates when laws change that affect your revocable living trust. We hold educational workshops at our Joplin, Springfield, and Bentonville locations. You get periodic reviews ensuring your plan matches your current situation. Many clients stay with us for 14, 18, even 20+ years because their planning evolves as life changes.

What Clients Say About Finally Understanding Their Options

Our clients consistently tell us they appreciate how we explain complicated legal concepts with clarity and even humor. One client said working with us felt like talking with a friend. Another mentioned feeling like she was working with a pastor during a difficult time. You’re known by your name here, not a number. Whether you need a revocable living trust, a simple will, or combination estate planning tools, we help you decide based on your unique circumstances.

Frequently Asked Questions

1. Do I need both a will and a trust?

Yes, most families need both. Your revocable living trust handles the bulk of your estate, but you still need a pour-over will to catch any assets you forgot to transfer into the trust and to name guardians for minor children.

2. Can I create my own living trust without an attorney?

You can, but I strongly discourage it. Online tools and electronic wills miss critical funding steps and state-specific requirements. One mistake in trust language or asset titling can cost your family thousands more than you saved by skipping professional guidance.

3. What happens if I move to a different state after creating my trust?

Your revocable living trust remains valid, but you should have it reviewed by estate planning attorneys in your new state. Different state laws might affect how your trust operates, and you may need updates to maximize protection under new jurisdiction rules.

4. How long does it take to set up a living trust?

The legal documents typically take two to three weeks to prepare. The funding process of retitling your financial assets into the trust takes another month or two, depending on how many accounts and properties you own.

5. Will my living trust protect assets from nursing home costs?

Not by itself. A standard revocable living trust doesn’t provide Medicaid protection because you maintain complete control. You need specific elder law strategies and irrevocable trusts designed for asset preservation if nursing home costs concern you.

6. Can I change my living trust after I create it?

Absolutely. That’s what makes it revocable. You can add or remove beneficiaries, change distribution percentages, add new assets, or completely dissolve the trust anytime during your lifetime. You maintain total control until death.

7. What happens to my trust if I get divorced?

Your revocable living trust doesn’t automatically adjust for divorce like beneficiary designations might. You need to formally amend the trust to remove your ex-spouse and update beneficiaries. This is exactly why ongoing estate planning reviews matter so much.

Conclusion

The living trust vs will decision isn’t one-size-fits-all. Your family situation, asset types, and state laws all matter. After 27+ years helping families across Missouri, Kansas, Arkansas, and Texas avoid probate problems, I can tell you this: the families who plan proactively sleep better at night. Let’s discuss your specific situation and create an estate plan that actually protects the people you love.

Contact us today to get started.