Living Trust vs. Will in Prairieville, Louisiana: What’s the Difference

By Joseph Stanier Manning

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Estate Planning

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Last Modified on May 13, 2026

Many documents can make up an estate plan, and each has different functions during your lifetime and after your death. Understanding a living trust vs. a will in Prairieville, Louisiana, can help you determine which document is important for your estate plan and how they can support your goals for your loved ones and your estate.

If you want to determine whether a will or a living trust is right for your estate planning goals, a Prairieville estate planning lawyer can help you assess both options and what else you can do under Louisiana trust and will laws to protect you and your family’s interests.

A Living Trust

A living trust refers to a trust you make that takes effect while you are alive. A trust allows you to transfer assets into the legal entity, name a trustee to manage the trust, and name beneficiaries to inherit the assets.

You can also name yourself as trustee, with a successor trustee to manage the trust if you cannot. Living trusts can also be designed to minimize the taxes you have to pay on certain assets.

A living trust does not have to wait for incapacitation or death to be managed or distributed. You can determine terms for the distribution of assets at any time, such as when your loved ones reach a certain age or meet other qualifications named in the trust. When the trust is used to distribute assets after death, those assets can bypass the succession process in Louisiana, called probate in other states.

A Last Will and Testament

A will is a document you create that determines the distribution of your assets to your beneficiaries after your death, as well as other important decisions during the succession process. Unlike a trust, a will only takes effect after your death.

Also, unlike a trust, a will does not prevent assets from entering succession. However, it can make the process more straightforward.

In addition to distributing your assets, the will lists those assets, appoints an executor for the administration of the estate, and can establish your wishes for a guardianship for your minor children.

In 2021, 54% of Americans did not have a will. If you die without a will in Prairieville, the court will distribute your assets based on Louisiana’s intestate inheritance laws.

Not only may this differ from how you want to distribute your assets, but it is also a long and complex process. It also only determines the portion of assets each party receives, not the specific assets, which can increase the tension and disagreements between your loved ones.

Do You Need a Will or a Living Trust in Prairieville?

The estate planning documents that you need depend entirely on your financial and personal situation. Many people benefit from both a will and a living trust in Prairieville.

Nearly everyone needs a will. It is a foundational document that is the basis for any estate plan, even if you have minimal assets.

You might want a living trust on top of a will when:

• You have significant assets. If you have high-value and complex assets, a trust is a much more effective way to protect and distribute those assets to your loved ones without a lengthy succession process. This includes key assets like businesses or real estate. In Prairieville, there was a homeownership rate of 85.8% in 2024.
• You want to avoid forced heirship. Louisiana has forced heirship laws, preventing the disinheritance of certain individuals in a will. Transferring assets into a trust for distribution could avoid this requirement.
• You want privacy. Trusts keep the specifics of your estate and beneficiaries more private, while a will is entirely public record.
• You have minor children. A trust creates better protections for assets that you want to pass to minor children, who will not be able to fully inherit them until they are of age.

FAQs

Is It Better to Have a Will or a Living Trust in Louisiana?

Whether it is better to have a will or a living trust in Louisiana depends on your estate, your financial situation, and your estate goals during your life and after your death. Your estate plan could include both a will and a living trust. Both documents can list your assets and how you want them distributed after death. A will is an important foundation for your estate plan, while a trust has other benefits like added privacy and asset protection.

What Is the Downside of Having a Living Trust?

One of the downsides of having a living trust is that it requires continued maintenance and management. You need to have records of the assets that fund the trust, keep records of any expenses or income, determine a plan for the investments in a trust, and file certain tax documents. If the trust has another person as the trustee, there are different steps compared to if you are the trustee.

Can a Creditor Take Your House if It’s in a Trust?

Whether or not a creditor can take your house if it’s in a trust depends on the type of trust, the creditor, and other factors. If your house is in a revocable trust, it likely does not have protection from creditors.

If the trust is irrevocable, it may have some protection from some creditors. There may also be other protections for your home depending on your jurisdiction. When you hire an estate planning lawyer, it’s easier to protect your assets.

How Much Does It Cost to Create a Living Trust in Louisiana?

The cost to create a living trust in Louisiana relies on many factors, including your estate’s value and complexity, and the type of professional you work with to create the trust. Trusts are generally more costly than other estate planning documents. Hiring a trust attorney can be costly, but it can also create an effective and enforceable trust that supports your goals and saves you time, costs, and stress in the future.

Hire an Estate Planning Lawyer in Prairieville

At Rowe & Manning Law Firm LLC, we have over 25 years of experience serving our communities. Reach out to our firm for straightforward and dedicated legal advice in your estate planning process and when working with the 23rd Judicial District Court.