Should I Have a Will or a Trust? The Real Answer Is Both

The Question Everyone Asks

Should I have a will or a trust?

It is one of the most common questions Sheridan Haddock PLLC fields from West Michigan residents. The honest answer is that the question itself is incomplete. The answer is often both, plus two more documents that get overlooked.

What a Will Actually Does

Everyone should have a will. A will details your intent with your estate should you pass away. It allows the Probate Court to appoint your chosen personal representative and distribute your assets according to your wishes rather than by Michigan’s default intestacy rules.

Without a will, the state decides. With a will, you decide.

But a will alone has a built-in cost. Probate.

Why People Use Trusts Instead

Most people prefer to avoid the hassle and expense of probate court. The alternative is to have a trust hold your assets.

When you pass away, a trust does not go through probate. Instead, a successor trustee you have already named takes over and acts on your intent as described in the trust document. No judicial oversight. No court fees. No public probate records. Faster distribution. More privacy.

For most families with meaningful assets, real estate, retirement accounts, or investment property, a trust is a significant upgrade over relying on a will alone.

The Two Documents Most People Forget

A complete estate plan is not just a will or trust. It also includes:

• A medical power of attorney. Names the person who can make healthcare decisions for you if you cannot make them yourself.
• A financial power of attorney. Names the person who can manage your finances if you become incapacitated.

Without these two documents, your family may have to petition the court for guardianship or conservatorship, adding stress, cost, and delay during an already difficult time.

The Minimum Every Adult Should Have

At a minimum, every adult should have:

• A will.
• A medical power of attorney.
• A financial power of attorney.

Most also find a revocable living trust very beneficial, particularly if they own real estate or have minor children. The right combination depends on your specific intent and circumstances. That is what an estate planning consultation is for.

What an Estate Planning Consultation Looks Like

A consultation with attorney Michael Haddock at Sheridan Haddock PLLC reviews your family situation, assets, beneficiaries, and goals. From that conversation, Michael recommends the right combination of documents for your circumstances.

No high-pressure sales. No template package. A personal review of your situation, with a clear recommendation tailored to your intent.

Talk to Attorney Haddock

Sheridan Haddock PLLC provides estate planning services across West Michigan including wills, revocable living trusts, powers of attorney, healthcare directives, and probate administration.

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Disclaimer: This article is for informational purposes only and does not constitute legal advice or create an attorney-client relationship. Each case depends on its specific facts and circumstances.