Will vs Trust in Canada: Which Is Right for Your Estate Plan?

Planning for the future isn't always easy, but it's necessary. One of the most common questions Canadians face when organizing their estate is whether they need a Will, a Trust, or both. The answer isn’t always straightforward. These tools serve different purposes, and understanding how they work can make all the difference when it comes to protecting your assets, minimizing legal complications, and ensuring your loved ones are taken care of.

In Canada, the distinctions between a Will and a Trust aren’t just legal jargon, they impact everything from how your estate is taxed to who gains access to your assets and when. And while both can be powerful parts of a well-rounded estate plan, they aren’t interchangeable.

If you’re unsure which one fits your situation, you’re not alone. This guide breaks down the key differences between Will vs Trust from a Canadian legal perspective, helping you make informed choices that reflect your goals and values.

What Is a Will?

A Will is a legal document that outlines how you want your assets and affairs to be handled after your death. It allows you to name an executor, someone you trust to carry out your instructions, and designate beneficiaries to receive your property, money, or personal items.

In Canada, a Will must meet specific legal requirements to be valid. These can vary slightly by province, but typically include being in writing, signed by the person making the Will (called the testator), and witnessed by two individuals who aren’t beneficiaries. Without a legally valid Will, your estate may be distributed according to provincial intestacy laws, which cannot reflect your wishes.

A Will only takes effect after death, and it usually goes through probate, which is the court process of validating the Will and authorizing the executor to act. This process can take time and may involve fees, particularly in provinces like Ontario, where estate administration tax (often referred to as probate fees) is applied based on the value of the estate.

Despite the public nature of probate and the potential delays involved, a Will remains one of the most straightforward and widely used estate planning tools in Canada. It’s especially useful for naming guardians for minor children and distributing assets in a clear, legally binding way.

In short, a Will gives you control over what happens to your estate, but only after you're gone, and often with some oversight from the court.

Key Differences Between Wills and Trusts in Canada

While both Wills and Trusts serve the purpose of managing and distributing your assets, they do so in very different ways. Choosing the right one (or combining both) depends on your goals, the complexity of your estate, and how much control you want over the process.

Here’s a closer look at the main distinctions between a Will and a Trust in a Canadian context:

For those with straightforward needs like: naming beneficiaries and appointing a guardian for your children, a Will is often enough. Our team at Khan Law can help you prepare a legally sound Will through our Wills and Estate Planning Lawyer services, making sure your final wishes are clearly documented and legally enforceable in Ontario.

However, if your estate involves multiple properties, business interests, or specific instructions for beneficiaries, a Trust can offer more flexibility and control. Setting up a living trust is also one of the most effective strategies for avoiding probate and maintaining financial privacy. We explore this in more detail in our Avoiding Probate in Canada blog post.

Still not sure what’s right for your situation? Many Canadians use both a Will and a Trust as part of a layered estate plan. In that case, tools like a “pour-over will” can ensure any assets not included in the trust are still transferred efficiently.

When Is a Will More Suitable?

A Will is often the go-to option for Canadians who want a simple, legally recognized way to distribute their assets. If your estate is relatively straightforward and you don't require ongoing management of your property after death, a Will may be all you need.

Here are a few scenarios where a Will in Ontario is typically the better choice:

• You want to name a guardian for your minor children
   
• Your estate primarily consists of basic assets like a home, bank accounts, or personal belongings
   
• You’re comfortable with the probate process
   
• You prefer a more cost-effective and straightforward approach
   
• Your beneficiaries are responsible adults who don’t need conditions around when or how they receive their inheritance
   

In these cases, a Will can cover everything necessary, from naming an executor to dividing your property and appointing someone to care for your children. It gives clear instructions and keeps your intentions on record.

While a Will does go through probate, this isn’t always a bad thing. In fact, probate provides a layer of legal validation that can help prevent disputes or misinterpretation. That said, the process can take time and may involve fees depending on the province. 

If you're in this position and don’t yet have a Will in place, it’s worth speaking to a Wills and Estate Planning lawyer who can ensure everything complies with Ontario law. At Khan Law, we regularly assist clients across the province with drafting Wills that are tailored, enforceable, and built to stand the test of time. 

When Is a Trust More Suitable?

While Wills work well for many, there are certain situations where a Trust makes more sense, especially when you want to maintain privacy, avoid delays, or put clear conditions on how your assets are managed and distributed. For Canadians dealing with more complex estates or unique family dynamics, a living trust can offer peace of mind and long-term control.

Here’s when setting up a Trust in Canada can be more appropriate:

• You want to avoid probate and keep your estate matters private
   
• You have significant real estate holdings or business assets
   
• You need to manage money on behalf of a child, a dependent adult, or someone with special needs
   
• You’re in a blended family and want to structure distributions carefully
   
• You prefer gradual or conditional inheritance, such as releasing funds at certain ages or life milestones
   
• You’re looking to minimize estate taxes or protect certain assets from potential claims
   

A living trust (also known as an inter vivos trust) allows you to retain control over your property during your lifetime, with clear instructions for what happens after your passing. Unlike a Will, it doesn’t go through probate, which means your estate can be settled faster and with greater privacy. If avoiding the courts and streamlining the transfer of assets matters to you, a trust is worth serious consideration.

At Khan Law, our estate planning lawyers work closely with clients who want this kind of flexibility. We help create customized trusts that reflect your unique goals, whether you're protecting a family cottage, managing a family business, or providing responsibility for loved ones over time. 

Still wondering whether a trust or a Will is the better fit? Many people end up using both. It’s not uncommon to create a trust for major assets and a Will to handle anything that falls outside the trust. 

Can You Have Both a Will and a Trust?

Yes, and in many cases, it’s actually the smartest move. Combining a Will and a Trust allows you to cover all your bases, especially when your estate plan needs both simplicity and structure.

Why Use Both?

While a Will in Ontario provides legal instructions for your estate after death, a living trust gives you the ability to manage assets during your lifetime and create a more private, controlled transfer after you pass. Together, they can form a comprehensive estate planning strategy that reduces uncertainty and risk for your loved ones.

Here’s how both tools work in tandem:

• A living trust holds and manages your major assets, such as real estate or investments, allowing for a smooth transition that avoids probate.
   
• A pour-over will act as a safety net, so that any property not already in the trust is transferred into it upon your death.
   
• The Will also allows you to name guardians for minor children and appoint an executor, which you can’t do in a trust.
   

This hybrid approach is especially valuable in situations where you may have ongoing obligations, such as caring for a loved one with special needs, or where you want to maintain privacy for larger financial matters while still covering basic instructions through a Will.

Benefits of a Dual Strategy

Using both a Will and a Trust gives you:

• Greater flexibility with asset management and distribution
   
• A backup plan for assets you might forget to transfer into your trust
   
• Protection against probate delays while retaining legal clarity
   
• Peace of mind knowing your loved ones won’t be left navigating a fragmented estate
   

At Khan Law, our estate planning lawyers often recommend this dual approach for clients who want the best of both worlds: control, efficiency, and legal clarity. Every situation is different, so we take the time to understand your estate, your wishes, and your concerns before suggesting the right combination.

Which Option Is Right for You?

Honestly, there’s no one-size-fits-all answer. Choosing between a Will, a Trust, or even using both really depends on your life, your family setup, your assets, and what kind of control you want to have over everything you’ve worked hard for.

If you’re just looking to put your wishes on paper, name guardians for your kids, or make sure your stuff ends up with the right people, a Will might be all you need. But if you’d rather skip the delays of probate or manage how and when your assets are passed down, maybe through a living trust, that’s something worth exploring too.

And honestly, a lot of people end up with both. It’s not about complexity, it’s about covering your bases.

At Khan Law, we’ve helped all kinds of families across Ontario figure this out. Some have simple estates, others have business assets, rental properties, or complicated family situations. Wherever you fall, we take the time to listen and walk you through your options, step by step.

And when you're ready to talk, get in touch. We’ll help you build a plan that fits, not just legally, but personally.