Wills trusts explained—okay, let’s just rip the band-aid off because I’m still salty about this.
So I’m sitting here in my freezing-ass Pennsylvania kitchen at 2 a.m. because the Keurig just died AGAIN, and honestly that feels like the perfect vibe to finally spill the tea on wills trusts explained the way nobody else will. Like, I thought I was adulting so hard in 2019 when I paid $47 for some online will template. Filled it out while eating leftover cheesesteak, signed it in front of my neighbor Karen who definitely thought I was high. Fast-forward to last year when I actually croaked (okay, fine, I didn’t die but my best friend did and left exactly that kind of cheap will) and watching his kids drown in probate made me want to scream.
Wills Trusts Explained: Why My Dumb Will Almost Ruined Everything
Here’s the thing nobody says out loud—a will is basically a love letter to the courthouse. It’s public, it’s slow, and strangers get to read about your One Direction concert ticket collection (true story, my cousin found that in probate records). I learned this when my buddy Mike died at 38. His will said “everything to my kids” but probate took 14 months, cost $18k in fees, and his ex got to drag everyone through discovery. Meanwhile I’m over here stress-eating Tastykakes watching his teenagers miss rent because the house was frozen.
A trust? Different beast. It’s private, it skips probate completely, and the stuff goes straight to whoever you want, like Venmo but for your entire life.
Will vs Trust: The Moment I Finally Got It (in a Wawa Parking Lot)
Okay, real talk—I was eating a gobbler bowl in the Wawa lot, crying into cranberry sauce, when my estate attorney slid across the seat and drew this on a napkin:
- Will → dies → probate court → public record → 12-18 months → fees eat 3-8%
- Trust → dies → trustee just hands stuff over → private → days or weeks → almost zero fees
That napkin is literally framed in my office now. I’m not even kidding.
Living Trust vs Will: My Actual Numbers from Pennsylvania 2024
Because I’m that psycho who keeps spreadsheets, here’s what actually happened:
- My $47 online will + probate would’ve cost my heirs ~$22,000 and 16 months
- My revocable living trust cost $2,200 upfront (yeah I almost choked) but saved literally $20k and all the public humiliation
- Bonus: my kids won’t have to read about my Beanie Baby collection in public records (yes I still have them, fight me)
Do I Need a Will or Trust? My Very Specific Checklist (Steal This)
Ask yourself these while eating Wawa mac and cheese like I did:
- Got more than $50k total? → trust
- Own a house in PA/NJ/any state that hates families? → trust
- Have minor kids and don’t want the state raising them if you both die? → TRUST
- Still think “I’ll just do the free will online” → please learn from my dumb ass
The Pour-Over Will Thing Nobody Explains Wills Trusts Explained
Yeah you still need a tiny backup will even with a trust. It’s called a pour-over will and it just says “oops if I forgot to put something in the trust, dump it in anyway.” Costs like $200 extra. Do it. I forgot my Roth IRA and almost caused World War III.
Revocable Trust Mistakes I Made So You Don’t Have To Wills Trusts Explained
- Didn’t fund it properly (left my checking account out—facepalm)
- Named myself as trustee but forgot successor trustees (what if I get hit by a SEPTA bus tomorrow?)
- Told exactly zero people where the original documents are (they’re in a fire safe bolted under my bed, text me if I die)
Cheap Will Mistakes That Still Haunt Me Wills Trusts Explained
Remember how I said I got Karen to witness my $47 will? Yeah… she moved to Florida. Nobody can find her. The court wanted to question both witnesses. Cue me tracking down Karen at a Margaritaville retirement home. She answered the door in a parrot hat holding a margarita at 10 a.m. Iconic, but my god.
Anyway, here’s the deal right now, 2:47 a.m. in sweaty pajama pants:
If you’re an American with a house, kids, or more than two brain cells—get the damn trust. Yeah it costs more upfront. Yeah I whined about the price while eating gas-station sushi. But watching probate destroy my friend’s family broke something in me.
Do the trust. Fund it properly. Tell your people where it is. And for the love of god, don’t use your neighbor who’s about to become a parrot-hat-wearing Floridian as a witness.
Still have questions? DM me @literallyjustkate on X, I’ll send you my actual trust template (the one that cost $2200 so you don’t have to pay that). Also I’ll throw in a picture of the cheesesteak that started this whole journey.
Now if you’ll excuse me, the Keurig is dead and I need to figure out how to make cold brew in a sock like a prisoner. Adulting never ends.
P.S. If you’re in PA/NJ/DE and need a trust attorney who doesn’t talk like a 1920s banker, here’s mine → https://www.trustlawpa.com (tell Lauren I sent you, she’ll laugh)
P.P.S. Yes I know this post is chaotic, that’s literally my brain on estate planning trauma.
