Living Trusts vs. Wills: Which One Protects Your Property Better in Tennessee?

Estate planning isn’t just legal paperwork. It’s about peace of mind. Keep reading to explore how living trusts and wills differ, what each means for your home and assets, and how a trust attorney in Nashville, TN can help with Rochford Law & Real Estate Title. 

What Is a Will? 

A will is your final roadmap. It names an executor, instructs who gets what, designates guardians for minor children, and can even outline burial or funeral wishes. In Tennessee, if you pass away with a will and your executor needs to use the will to access assets and distribute your estate, it will go through probate. Probated wills get validated, debts are paid, and assets are distributed under court supervision. 

However, probate can be time-consuming, public, and expensive. There are limited situations where real property can pass outside of probate. However assets such as bank accounts and financial accounts can only be accessed via an order from the probate court.

What Is a Living Trust? 

A living trust is an arrangement you set up while you are alive to hold ownership of your assets instead of your personal name. You (as grantor) typically serve as trustee and manage your assets, but upon incapacity or death, a successor trustee steps in, avoiding probate altogether. 

With a living trust, your property is transferred directly to beneficiaries, keeping your affairs private and avoiding probate delays and costs. 

Revocable vs. Irrevocable Trusts

There are two main types of living trusts: 

• Revocable Trust: Flexible and changeable. You retain control during your lifetime. Great for managing assets but doesn’t shield them from creditors or estate taxes. 
• Irrevocable Trust: Once set up, it is permanent. You relinquish control, but it can offer tax benefits and protect assets from creditors. 

Both can bypass probate, but the level of protection and permanence varies. Decisions depend on your goals.

Probate in Tennessee and How Trusts Avoid It

Probate, court-based legal validation of wills, can be avoided under certain circumstances: 

• Small estates may use simplified procedures (affidavits).
• Joint ownership with rights of survivorship passes assets automatically.
• Beneficiary designations (POD/TOD accounts) transfer directly upon death.
• Living trusts bypass probate entirely when assets are properly titled in the trust’s name. 

Avoiding probate not only saves time, but also keeps key details private from public court records.

Why DIY Estate Planning Can Fall Short 

Skipping an attorney to draft your will or trust might seem cost-effective, but it can backfire. Tennessee law is specific, and what was legally valid two years ago may not be today. 

In addition, DIY efforts can miss critical steps like properly funding a trust, or updating documents after life changes like marriage, divorce, or asset acquisition.

Rochford Law & Real Estate Title: Trust Attorney in Nashville, TN

Rochford Law & Real Estate Title offers trusted estate planning support in Nashville, TN. With over 26 years of experience, our team helps individuals set up wills, trusts, deeds, and navigate probate with care and expertise.

If you would like to explore your options in-depth, consider reaching out to us at Rochford Law & Real Estate Title. Your future peace of mind is worth it.