Both a will and a trust allow you to direct how your assets pass to your heirs, but they differ significantly in process and privacy. A will must go through probate — a public, court-supervised process that comes with associated costs and fees. A trust generally avoids probate, keeps asset distribution private, and gives you more precise control over beneficiary access. While establishing a trust may require more upfront effort — particularly when funding it with assets — it can reduce costs, protect privacy, and potentially lower estate taxes for high-net-worth individuals.