Understand the Differences, Benefits, and Costs for St. Louis Area Families
If you live in Missouri and are creating an estate plan, the biggest question you will face is:
“Do I need a will, a trust, or both?”
It’s confusing because:
- Everyone has heard of a will
- Many people know they should have a trust
- Estate planning myths are everywhere
- Missouri has unique probate rules
- Online forms oversimplify the process
- Families want to avoid unnecessary complexity
This guide will give you a clear, detailed, Missouri-specific explanation of when you need a will, when a trust is better, and when you need both.
We’ll cover:
- How wills work in Missouri
- How trusts work in Missouri
- Probate implications
- Costs
- Asset protection
- Guardianship
- Minor children
- Taxes
- Common mistakes
- Real examples from St. Louis
- A decision checklist
By the end, you will know EXACTLY whether a will or trust is right for your family.
The Missouri Basics — Wills vs. Trusts
Let’s break it down simply.
A Will in Missouri
A will is a legal document that:
- Says who gets your assets
- Names a guardian for minor children
- Names an executor (“Personal Representative”)
- Provides instructions
BUT:
❌ A will must go through probate
❌ A will does not protect assets
❌ A will distributes everything at age 18 for minor kids
❌ A will becomes public record
❌ A will only takes effect after death
❌ A will does not cover incapacity
A will is better than nothing — but it is limited.
A Trust in Missouri
A revocable living trust:
- Avoids probate
- Keeps your plan private
- Manages assets during incapacity
- Allows someone else to manage assets for your kids
- Protects children from receiving assets at age 18
- Supports long-term management
- Works immediately (during your lifetime)
Trusts are more flexible and powerful.
The Probate Difference (The MOST Important Distinction)
This is the biggest difference:
| Feature | Will | Trust |
|---|---|---|
| Avoids Probate? | ❌ No | ✅ Yes |
| Controls inheritance at 25/30/etc. | ❌ No | ✅ Yes |
| Manages assets if you become disabled | ❌ No | ✅ Yes |
| Governor over installment distributions | ❌ No | ✅ Yes |
| Private or public? | Public | Private |
| Protects from disputes? | Minimal | High |
| Easy for family? | No | Yes |
Probate in Missouri:
- takes 6–18 months
- costs 5–10% of the estate
- is public
- requires filing forms
- delays distribution
- causes stress
- often triggers conflict
A trust avoids all of this.
Missouri-Specific Reasons Trusts Are Popular
Missouri has several quirks that make trusts extremely useful.
1. Missouri Probate Is Required Even With a Will
Families are shocked to learn:
- A will guarantees probate
- Probate is slow (average 9–15 months)
- Probate is costly (5–10%)
- Probate delays real estate sales
- Probate freezes bank accounts
If avoiding probate matters → trust.
2. Missouri Requires a Guardian for Minor Children Through the Will
A will names guardians, but:
❌ A guardian does NOT manage money
❌ A guardian does NOT control inheritance
❌ A guardian does NOT protect assets
Money must be controlled by a conservator appointed by the court unless a trust exists.
This leads to:
- court control
- reporting requirements
- delays
- conflict
- forced distributions at age 18
A trust solves this.
3. Missouri TOD/POD tools often fail
TOD deeds and POD accounts are popular but flawed.
Failures happen when:
- a beneficiary dies first
- a beneficiary is disabled
- money is left to a minor
- the owner forgets to update designations
- the account type changes
- there are blended family issues
One failure = probate.
A trust is safer and more predictable.
4. Missouri Real Estate Almost Always Requires Probate Without a Trust
If a home is titled in the name of:
- a single person
- a widow
- a divorced parent
- a remarried spouse
- a parent with adult children
- a blended family
Probate is almost automatic.
Putting the home in a trust eliminates this.
When a Will Is Sufficient in Missouri
A will might be enough if:
- you have no children
- you have no real estate
- you have minimal assets
- you have no retirement accounts
- you are comfortable with probate
- you want a very simple plan
Example scenarios:
✔ Single young adult
✔ Minimal assets under $15,000
✔ Everything is already beneficiary-designated
If probate would be simple and inexpensive, a will may be enough.
But this applies to less than 10% of Missouri families today.
When a Trust Is Strongly Recommended in Missouri
Trusts are strongly recommended for families who:
1. Have Minor Children
This is the #1 reason to use a trust.
A trust:
- handles money until children reach maturity
- allows distribution ages (e.g., 25/30/35)
- allows incentives (education, sobriety, work ethic)
- protects assets from misuse
- keeps inheritance from predators
A will cannot do any of this.
2. Own Real Estate
Even a single home → probate.
A trust prevents:
- delays
- creditor problems
- forced sales
- multiple probate filings
Missouri’s deed laws make trusts the safest option.
3. Have Life Insurance or Retirement Accounts
Most Missouri families have:
- a 401(k)
- IRA
- life insurance
- brokerage accounts
A trust prevents:
- minors inheriting funds
- accidental disinheritance
- messy distributions
- disputes in blended families
4. Want to Avoid Court At All Costs
A trust ensures:
- no court involvement
- no delays
- no probate fees
- no public records
Families handle everything privately.
5. Have Blended Families
Missouri intestacy laws do NOT protect blended families fairly.
A trust is critical if you have:
- stepchildren
- children from prior relationships
- complex dynamics
You can control exactly what goes where.
6. Want to Protect Children’s Inheritance
Trusts protect against:
- divorce of beneficiaries
- creditors
- substance abuse
- financial immaturity
You choose:
- trustees
- distribution ages
- restrictions
- incentives
7. Want to Plan for Incapacity
A trust is active during your lifetime, unlike a will.
If you become incapacitated:
- your trustee takes over
- no court involvement
- no conservatorship
- no frozen accounts
This is one of the biggest advantages of a trust.
Real Missouri Examples — Will vs Trust Outcomes
Example 1: The Clayton Family With a Will (Probate Required)
A family with two kids and a will passes away.
Because everything was titled individually:
- probate lasted 14 months
- kids inherited everything at age 18
- attorney fees were $20,000+
- real estate sale was delayed
A trust would have solved everything.
Example 2: O’Fallon Couple Used TOD Designations — Disaster
TOD worked for one account, failed for two others.
Because of outdated designations:
- stepchildren inherited unintentionally
- disputes erupted
- court settlement took 10 months
Trusts prevent this.
Example 3: Chesterfield Parents Used a Trust — Smooth
A couple passed unexpectedly.
Trust terms:
- held assets until kids turned 30
- protected inheritance
- avoided probate
- allowed family to settle everything privately
Trusts work exactly how families intend.
Cost Comparison — Will vs Trust in Missouri
| Feature | Will | Trust |
|---|---|---|
| Upfront Cost | Lower | Higher |
| Probate Cost | High | $0 |
| Control Over Kids’ Inheritance | Minimal | Excellent |
| Incapacity Planning | ❌ | ✔ |
| Privacy | ❌ | ✔ |
| Protection From Disputes | Limited | Strong |
| Long-Term Cost | High | Low |
A will is cheaper now. A trust is cheaper long-term.
This is why trusts are the preferred tool for families.
Missouri-Specific Legal Rules to Know
1. Missouri requires a will for guardianship
Your trust cannot name a guardian — the will must.
2. Missouri allows virtual notarization
This makes trust creation easy and modern.
3. Missouri probate fees rise with estate value
This makes probate expensive.
4. Missouri intestacy laws may disinherit stepchildren
A trust ensures equity and fairness.
5. Missouri small estate affidavit has a $40,000 limit
Many families don’t qualify.
Which One Should YOU Choose? (Decision Checklist)
Answer the following:
Do you have minor children?
Yes → Trust
No → Continue
Do you own real estate?
Yes → Trust
Do you want to avoid probate?
Yes → Trust
Do you want privacy?
Yes → Trust
Are you okay with your kids inheriting everything at 18?
Yes → Will
No → Trust
Do you want a simple plan for minimal assets?
Yes → Will
Do you want long-term protection for children?
Yes → Trust
The Bottom Line: Trusts Offer the Most Protection in Missouri
If you’re a parent → Trust
If you own a home → Trust
If you want to avoid probate → Trust
If you want privacy → Trust
A will is better than nothing,
but a trust provides what families actually want.
Ready to Create a Missouri Trust That Actually Works?
You can create a fully virtual, flat-fee trust—with full trust funding included—from the comfort of your home.