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Wills vs. Trusts

Thu, 30 Apr 2026 21:04:00 GMT

When you are first starting out on your estate planning journey the question arises: should I get a will or a trust and why? There is so much confusing and often times erroneous information out there. This Blog will help you make basic distinctions between a Will and a Trust; highlighting the key differences and advantages and disadvantages between them.

What is a Will?

A Will is a basic testamentary document which specifies who is charged with administering your estate’s assets after you die, otherwise known as your Executor; and the Beneficiaries/Successors who are to receive your wealth. A Will can be used to nominate guardians for your minor children, provide for funeral and burial instructions, and exercise powers of appointment. If your estate does not qualify for a Small Estate Administration under the California Probate Code; meaning your collective estate assets are above that statutory threshold, when you pass away your Will is subject to a formal court supervised proceeding known as Probate Administration (“Probate”). During Probate, your assets are inventoried and appraised, creditors will collect on debts, taxes are paid, and your remaining property is publicly administered according to your stated wishes in the Will. A Will has very specific legal requirements and I recommend working with an attorney to draft and sign your Will to ensure that it is legally sufficient. If you die without a Will, the Court handles the administration via an intestate succession, where your property is distributed to your heirs according to California Law. If you don’t have at least a basic Will, California will dictate it for you.

What is a Trust?

A Trust is a legal vehicle that is very flexible. A Trust specifies: (1) who will manage and distribute your assets both during lifetime and thereafter (your Trustee, who can be yourself and/or your spouse during your lifetimes, and Successor Trustees when you pass away); (2) to whom your assets will be distributed (your Beneficiaries); and (3) the manner in which assets are to be held and distributed for the benefit of your beneficiaries. You can put many limiting circumstances for the beneficiaries receipt of assets in the various clauses in your Trust. For instance, you can specify that minors are only to receive assets at a certain age, like at age 25, or according to a distribution schedule or other timeline. Assets can be held in trust for your heirs for even longer than this, even for their whole lifetime.

A Trust goes into effect when you execute it and may provide for distributions during your lifetime; but generally speaking, it becomes irrevocable when you pass away, meaning it cannot be changed after that. Your successor Trustee simply carries on administering the Trust according to your wishes, but without timely and costly court proceedings. So it has the benefit of being privately managed by your successor Trustee; keeping your personal affairs and sensitive information out of the public eye when you’re gone.

There are many different types of trusts, including, Special Needs Trusts, which provides for your beneficiaries who are receiving means-tested public benefits, who would otherwise become disqualified from receiving those benefits if they were to receive even a relatively small inheritance. At Lehmann Law, P.C. we can help you with solutions to all of your estate planning needs, including setting up Special Needs Trusts.

And don’t worry, you can and should also have an accompanying “Pourover Will” to nominate your minor’s guardians and accomplish everything else stated above in accompaniment to your Trust. The primary purpose of the Pourover Will is to pour over any untitled assets into the Trust when you pass on, but the Trust remains your primary testamentary document.

A Trust also has very specific legal rules and regulations it must follow and I highly recommend working with an experienced attorney to draft and sign your Trust.

Key Differences Between Wills and Trusts:

Wills: Subject to Probate, Publicly Administered, Assets are generally distributed immediately, High Cost* (i.e. for a 1 million dollar estate you should expect your heirs to pay at least $46,000 for Executor and Attorney’s statutory fees, plus additional costs for court filings, appraisals, bonds, and extraordinary fees as authorized by the Court. The assets remain frozen until the end of the Court Proceedings).

Trusts: Probate Avoidance, Privacy Concerns Alleviated, Control over the timing and manner of asset distribution, Special Needs can be addressed, Low Cost of setting up a Trust (only a fraction of what Probate costs), Flexibility in creating the Trust, and the peace of mind knowing that your estate will pass to your heirs in the manner in which you desire it to.

In general, I recommend getting a Trust for most situations, as it is the easiest to administer for your heirs, it avoids costly probate proceedings and the long wait for property to be distributed by backlogged courts. And that’s if everything runs smoothly and no one contests your Will, which can set back the court proceedings for months or even years. As you can see, setting up a Trust is an act of kindness for your loved ones as it takes away the guesswork and hassle of Probate Court. If you have any questions regarding Wills or Trusts and which one is appropriate for you, please contact us at Lehmann Law, P.C. and set up your free 30 minute consultation.

Top 5 Estate Planning Myths

Tue, 20 Jan 2026 22:17:35 GMT

According to a recent survey done by caring.com (2025), only 45% of Americans have any sort of any estate planning documents in place, while only a staggeringly low 24% of Americans only have a basic will. This is down from 33% in 2022. So why is it that so few Americans have any estate planning documents? It’s not because we don’t care about our families and want them to be cared for in the event that something happens to us. But there are some common misconceptions that arise when the topic of estate planning comes up.

Here are the top 5 estate planning myths and what you can do to be prepared:

1. Estate Planning is Only for the Wealthy

While it is true that many of the wealthy respondents to the 2025 survey had some estate plan documents in place, such as a revocable living trust or at minimum a will, power of attorney for finances, and advance health care directive; it is not true that only people with significant wealth need an estate plan. A properly drafted estate plan takes into consideration not only how your assets will be distributed and to whom, but also what happens if you become incapacitated, or too sick to make decisions for yourself with respect to medical care and finances. Getting a properly drafted estate plan gives you the power of setting into action a plan that puts your wishes in place when any of this occurs. A proper plan also sets up guardianships for your minor children in the event that something happens to you. This means your children will be cared for in the manner you wish them to be and by whom. Putting your wishes into action by getting an estate plan also limits avoidable and unnecessary family conflict.

2. An Estate Plan is Too Complicated and Expensive

I have heard this many times over the years that getting an estate plan is too complicated and expensive and that clients just want to keep it simple. But estate planning doesn’t have to be complicated or expensive to sufficiently put your wishes into action in the event something happens to you. In fact, quite the opposite is true in that not having an estate plan subjects your estate to probate administration–a lengthy, complicated, and expensive court supervised process in which your assets are distributed, not according to your wishes, but the Probate Code. During this time, your assets are frozen until the administration wraps up. The cost of a probate administration for a $1,000,000 estate is a total of $46,000 in statutory fees set by the Probate Code. This vastly exceeds the cost of setting up an estate plan with a revocable living trust. You see the State has a plan for you even if you have never set one up.

3. A Will is Enough

I hear this one too from people all the time– I have a will so I am covered. But what they don’t realize is that a will does not avoid probate as discussed in detail above. While a properly attorney drafted will does state your wishes with respect to who your heirs are and who you want to be the personal representative of your estate (your executor), it still must pass through probate court administration. I like to think of a will as your letter to the probate court judge as to who you want your assets to pass to and by whom. It is done in a public setting too, meaning that your private affairs are widely available to the public purview. Setting up a revocable living trust is a privately managed solution to help avoid probate and set your plan into action.

4. I am too young to have an Estate Plan

This is another one I see over and over again–estate planning is only for the elderly. This is just simply not true. I have set up trusts for individuals as young as twenty years old because they cared about what would happen to their family in the event that something happened to them. A thoughtfully drafted estate plan puts in place guardianships for minor children for young parents– a consideration most parents would wish to address. An estate plan can also set up who will manage your small business or digital assets as well (such as: social media, cryptocurrency, accounts, blogs, etc.).

5. I already have an Estate Plan Set in Stone

An estate plan is not a “set it and forget it” kind of thing. I’ve seen trusts drafted over thirty years ago that are so out of date they no longer make sense under the current law. This is not going to be helpful to your loved ones and beneficiaries when you pass. I advise my clients to review and update their estate plan every three to five years or when of a major life event occurs, such as: marriage, divorce, the death of a beneficiary, agent, or trustee; when you acquire new assets such as a home, and if you move to another state.

The estate planning misconceptions addressed in this blog post is not an exhaustive list but it highlights the most common myths people believe with respect to it. Estate planning can be a difficult subject matter to discuss because no one wants to think of what happens when they pass on or become too sick to manage their affairs, but it doesn’t have to be. I want to empower you to make your wishes known by setting up an estate plan that is properly drafted by an experienced estate planning attorney. Contact us today for your free 30 minute consultation to put your plan into action.

Welcome To Our New Website!

Fri, 09 Jun 2023 20:13:24 GMT

We’re excited to welcome you to the new online home of Lehmann Law, P.C. As a trusted law firm serving the Bay Area and California, our mission remains the same — to help you protect what matters most through personalized legal guidance and forward-thinking solutions.

Our new website was designed with you in mind. Here, you can learn more about who we are, explore our practice areas, and easily connect with us for your legal needs. We’ve made it simple to navigate, whether you’re looking for help creating an estate plan, administering a trust, guiding your family through probate, or forming a new business.

You’ll find:

Detailed information on our services in estate planning, trust administration, probate, and business formation.
Clear answers to common questions in our FAQ section.
Easy contact options , including an online consultation request form.
Helpful insights through our growing blog, where we’ll share updates and practical advice on protecting your family’s future.

At Lehmann Law, P.C., we’re dedicated to providing knowledge, efficiency, and cost-effective legal solutions tailored to your unique goals. Our new website reflects that commitment — making it easier than ever to get the information and guidance you need.

We invite you to explore the site, learn more about our approach, and reach out to schedule your free 30-minute consultation . Together, we’ll create a plan that safeguards your legacy and provides peace of mind for years to come.