For many homeowners, ensuring that their property is protected and smoothly transferred to loved ones is a top priority. One of the best ways to achieve this is through a living trust—a powerful estate planning tool that provides flexibility, avoids probate, and helps streamline the inheritance process.
At Gentreo (www.gentreo.com), we are committed to making estate planning affordable and accessible, which is why we now offer living trusts as part of our services. In the past, setting up a trust often required thousands of dollars in legal fees, making it an option only for the wealthy. But thanks to online estate planning, you can now create a complete estate plan, including a living trust, with Gentreo.
So, should you put your home in a trust? Let’s explore the pros, cons, and key differences between a living trust (and a pour-over will), a will, an irrevocable trust, to help you make an informed decision.
What’s the Difference Between a Trust and a Will?
Many people assume that having a will is enough to ensure their assets pass to their loved ones, but a trust offers key advantages—especially when it comes to your home. The biggest difference? A trust allows your property to bypass probate, while a will does not.
Trust vs. Will: Which Is Right for You?
| Factor | Trust | Will |
| Avoids Probate? | ✅ Yes | ❌ No |
| Takes Effect During Lifetime? | ✅ Yes | ❌ No |
| Allows for Incapacity Planning? | ✅ Yes | ❌ No |
| Provides Privacy? | ✅ Yes | ❌ No (Wills become public) |
| Asset Protection? | ❌ Revocable: No ✅ Irrevocable: Yes | ❌ No |
| Cost to Set Up? | 💰 Higher (unless you use Gentreo, but can save money in probate costs later) | 💰 Lower upfront, but probate can be costly |
If avoiding probate, maintaining privacy, and ensuring smooth property transfers are important to you, a living trust may be the best option.
Why a Pour-Over Will Complements a Living Trust
Even if you create a living trust, it’s important to also have a pour-over will as a safety net and why Gentreo includes one. A pour-over will ensures that any assets you forget to place in your trust during your lifetime are automatically transferred into the trust after your passing.
Here’s why a pour-over will is essential:
✅ Captures any assets left outside the trust—such as newly acquired property or forgotten accounts.
✅ Provides a backup plan—ensures that everything ends up in the trust as intended.
However, assets transferred through a pour-over will must still go through probate before officially being placed in the trust. To avoid probate altogether, it’s best to fully fund your trust during your lifetime.
Pour-Over Will vs. Regular Will: What’s the Difference?
| Factor | Pour-Over Will | Regular Will |
| Where Do Assets Go? | Into a trust | Directly to heirs |
| Avoids Probate? | ❌ No (but can speed up the process) | ❌ No |
| Flexibility? | ✅ Yes (allows for trust management) | ❌ No (final distributions are set in stone) |
A pour-over will is a critical safety net for trust-based estate planning, ensuring that nothing is unintentionally left out of the trust.
Revocable vs. Irrevocable Trust: Which One Should You Choose?
Once you decide to create a trust, you’ll need to choose between a revocable and an irrevocable trust. Each has its own benefits depending on your needs. Note that Gentreo does not offer an irrevocable trust due to the fact that once created it is almost impossible to change.
Revocable Trust
A revocable trust allows you to maintain control over your assets while you’re alive. You can make changes at any time and name a successor trustee to manage things if you become incapacitated.
✔ Benefits:
- Avoids probate, saving time and legal fees.
- Allows you to update or revoke the trust anytime.
- Provides a clear plan if you become incapacitated.
✖ Drawbacks:
- Offers no protection from creditors or lawsuits.
- Does not reduce estate taxes.
Irrevocable Trust
An irrevocable trust is more restrictive, meaning once assets are placed in the trust, they cannot be easily removed or changed. However, this type of trust offers benefits for asset protection and tax reduction.
✔ Benefits:
- Can shield assets from creditors and lawsuits.
- Can help with Medicaid eligibility for long-term care.
- May reduce estate tax liabilities.
✖ Drawbacks:
- Once created, it’s difficult (or impossible) to modify.
- Loss of control over the assets placed in the trust.
Final Thoughts: Choosing the Best Estate Planning Tool for Your Home and Assets
When it comes to estate planning, choosing between a will, a living trust, and an irrevocable trust depends on your specific needs, goals, and financial situation. Each tool serves a unique purpose, and understanding how they work together can help you protect your assets, avoid legal complications, and ensure your loved ones are taken care of.
All that you can create with Gentreo, www.gentreo.com:
✅ A will is essential for naming guardians for minor children but does not avoid probate.
✅ A living trust provides flexibility, avoids probate, and helps ensure your home is smoothly transferred.
✅ A pour-over will acts as a safety net, transferring any forgotten assets into your trust.
And an important document that you cannot create on Gentreo as Gentreo does not offer an irrevocable trust and one should consult an attorney for more advice and help.
✅ An irrevocable trust offers asset protection and potential tax benefits but once assets are put in this, it is typically impossible to make changes.
At Gentreo (www.gentreo.com), we make estate planning affordable and accessible, offering a complete estate plan—including a living trust and pour-over will. By taking control of your estate plan today, you can ensure your home and assets are protected, efficiently transferred, and managed according to your wishes.
Start Protecting Your Home Today
Estate planning doesn’t have to be complicated or expensive. Whether you need a living trust, a will, or more, Gentreo provides an easy, affordable, and secure solution to help you plan for the future. Get started today at www.gentreo.com and take the first step toward peace of mind for you and your loved ones.
Don’t wait until it’s too late; start your estate planning journey with Gentreo today. By doing so, you’ll not only protect your loved ones but also gain the peace of mind that comes with knowing your legacy is secure. Click HERE to join now.
This article is for informational purposes only and should not be considered legal advice. Consult with a qualified attorney or estate planning professional for personalized guidance.
