Will or living trust: which one do you actually need, and what each costs online

Every online estate planning service puts the same fork in front of you early: a will plan, or a trust plan that costs two or three times as much. The honest answer is that most people need a will, and fewer need a trust than the marketing suggests. But for homeowners in some states, a trust saves the family months of court process.

This page gives you a test you can run in five minutes, then prices both routes. State figures come from official state court and statute sites; prices come from each company’s own pages, read on the date in the facts table. This is general information, not legal advice.

What is the difference, in one paragraph?

A will says who gets what and who is in charge, but it takes effect through probate, the court process that validates the will and supervises your executor. A revocable living trust holds your assets while you are alive, under your control, and at your death a successor trustee hands them out under the trust’s terms, without probate. A trust also lets that successor manage your affairs if you become incapacitated. Anything you do not put in the trust still goes through probate under a pour-over will, which every trust package includes.

The five-question test

1. Do you own real estate? If not, a will is almost always enough. Bank and investment accounts can pass outside probate through payable-on-death and transfer-on-death designations, and retirement accounts and life insurance pass to named beneficiaries already.

2. How big is what would be left in your name? Every state has a simplified procedure for small estates, and the limits vary widely:

State	Small-estate limit (official source)
California	$208,850 for personal property, for deaths on or after April 1, 2025; up to $750,000 for a primary home under a separate court petition
Florida	Summary administration if the estate is $75,000 or less, or the person died more than two years ago
New York	Small estate if personal property is $50,000 or less

If what would be left after beneficiary designations falls under your state’s limit, probate is short and a will is enough.

3. How slow and costly is probate where you live? California’s courts say formal probate “typically takes 9 to 18 months” and that fees are generally set by law as a percentage of the estate. That combination is why California homeowners use trusts more than anyone. In states with simpler probate, the case for a trust is weaker.

4. Do you own property in more than one state? Then your family faces probate in each state where you own real estate. A trust holding both properties avoids all of it. This alone justifies a trust.

5. Do you want money held for children or others past 18? A will can name someone to manage what children inherit, but a trust gives you far more control over when and how they receive it.

If you answered yes to question 1 and to any of 3, 4 or 5, a trust is usually worth it. If you answered no to question 1, a will is usually enough.

Is there a cheaper way to keep the house out of probate?

Sometimes. Many states allow a transfer-on-death deed, which names who gets your home at your death without probate. California’s courts describe one as a simple form you fill out, notarise and record; New York’s statute allows them too, signed before two witnesses and a notary and recorded before death. Not every state allows them, so check your state’s law before relying on one.

A transfer-on-death deed is cheaper than a trust but does less: it does not help if you become incapacitated, does not hold money for children, and has to be done separately for each property. WillMaker’s Plus plan includes a transfer-on-death deed alongside the trust, so you can choose.

What does each route cost online?

	Will plan (will, directive, power of attorney)	Living trust plan
FreeWill	Free	Free, California residents only
Quicken WillMaker & Trust	$149 (Plus; Starter at $109 lacks the power of attorney)	$149 (same Plus plan)
GoodTrust	$149	$149 (same plan)
LegalZoom	$149 (Pro Will)	$399
Trust & Will	$199	$499

Two things stand out. At WillMaker and GoodTrust, the trust costs nothing extra over a complete will plan, so if you are buying from them you might as well have the option. At Trust & Will and LegalZoom, a trust costs a few hundred dollars more, and Trust & Will lets you start with a will and upgrade later for the difference ($300, the difference between plans).

The hidden cost of a trust: funding it

A trust only avoids probate for what you put in it. After signing, you have to deed your house into the trust and retitle or add the trust as beneficiary on your accounts. It is a few hours of paperwork, or you can pay: Trust & Will’s partner charges $140 per deed, plus recording fees for a deed and LegalZoom $249, plus state filing fees. If you know you will not do this step, a will plus transfer-on-death designations may serve you better than an unfunded trust. Our guide to funding a living trust shows the steps.

Our recommendation by situation

• Renting, savings and a retirement account: a will plan, with beneficiaries named on every account. FreeWill if your wishes are simple; our cheapest complete will page compares the paid options.
• Homeowner in a state with slow probate, such as California: a living trust. WillMaker Plus for the lowest price; Trust & Will if you want funding help.
• Property in two states: a living trust, funded with both properties.
• Young children and a house or large life policy: a trust, so the money is held on your terms; our parents’ page covers the guardian side.
• Homeowner in a state with a transfer-on-death deed and simple probate, on a budget: a will plan plus a transfer-on-death deed.

Next steps

1. List what you own and how each asset is titled, and which already have beneficiaries.
2. Look up your state’s small-estate limit and compare it with what would be left.
3. Decide: will plan, will plus transfer-on-death deed, or trust.
4. Buy the plan that matches, and sign it properly.
5. If you chose a trust, fund it the same month.