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Wills vs. Trusts: A Plain-Language Guide for Colorado Families

What’s the difference between a will and a trust, and which does your family need? Here’s a plain-language guide for Colorado families.

Two Tools, Two Different Jobs

Few questions come up more often than this one: do I need a will or a trust? For most families, each does a different job, and a complete plan usually uses both.

What a Will Does

A will says who receives your property and, for parents of minor children, nominates a guardian. What it does not do is keep things out of court. In Colorado, a will is carried out through probate, the court-supervised process of settling an estate. It is public and can take months.

What a Trust Does

A revocable living trust holds assets during your lifetime, with you in control. If you pass away or can no longer manage things, the person you chose steps in. Because the trust already owns the assets, they are designed to pass privately, often without court involvement.

Why Most Plans Use Both

Even with a trust, a will still has work to do. It nominates guardians for your children and acts as a safety net, directing anything left outside the trust into it.

Two Common Myths

• “Trusts are only for the wealthy.” Trusts are about control and privacy, not net worth.
• “A will avoids probate.” It doesn’t. A will is a set of instructions for the probate court, not a way around it.

Which Is Right for Your Family?

That depends on your home, your children, your accounts, and what matters most to you.

This is general information, not legal advice. Reading it does not create an attorney-client relationship. Consult an attorney about your specific situation.

By Alexa Tetzlaff, Esq.  ·  Enliven Law  ·  Denver, Colorado

Estate planning attorney at Enliven Law, helping individuals, families, single parents, couples, and business owners across Denver and Colorado create plans that protect what matters most.

Enliven Law  ·  (303) 900-1003  ·  enlivenlaw.com