Legal

Will vs. Revocable Living Trust:

Will vs. Revocable Living Trust: What Hawaii Real Estate Owners Need to Know

If you own real estate in Hawaii—or plan to—it's important to understand how your property will transfer to your loved ones in the future. While many people are familiar with a last will and testament, fewer understand the benefits of a revocable living trust—especially in a state like Hawaii where probate can be costly and time-consuming.

In this article, we’ll break down the key differences between a will and a revocable living trust, and why many Hawaii homeowners choose to protect their real estate assets with a trust.


What Is a Will?

A will is a legal document that outlines how you want your property and assets to be distributed after your death. It also allows you to name guardians for minor children and an executor to carry out your wishes.

Pros of a Will:

  • Simple and inexpensive to set up

  • Allows you to name a guardian for children

  • Can designate an executor to manage your estate

Cons of a Will:

  • Requires probate—a public court process to validate the will and distribute assets

  • Probate in Hawaii can take 6 months to 2 years, even for modest estates

  • Legal fees and court costs can reduce the value of your estate


What Is a Revocable Living Trust?

A revocable living trust is a legal entity you create to hold ownership of your assets—including real estate. You act as the trustee during your lifetime and name a successor trustee to take over if you become incapacitated or pass away.

Key Benefits of a Trust for Hawaii Property Owners:

  1. Avoids Probate: Your Hawaii home can transfer directly to your beneficiaries without going through court.

  2. Privacy: Trusts are not public record, unlike wills which are filed in probate court.

  3. Speed: Assets can be distributed more quickly than through the probate process.

  4. Flexibility: You can update or revoke the trust during your lifetime.

  5. Incapacity Planning: If you become ill or disabled, your successor trustee can step in without court intervention.


Why This Matters for Hawaii Real Estate

Hawaii’s probate process is notoriously slow and expensive, especially for real estate held in multiple islands or owned by out-of-state heirs. If your property is in a trust, your beneficiaries can often avoid months of delay and thousands in legal fees.

Additionally, Hawaii’s high property values mean even a small estate can trigger probate, leading to complications your family may not be prepared for.


Real-Life Example:

Let’s say you own a single-family home in Kailua. If your property is titled in your name alone and you pass away with only a will, the home must go through probate before your family can sell or live in it. But if it’s held in a revocable living trust, your successor trustee can immediately step in, rent it out, sell it, or transfer title—all without court involvement.


Final Thoughts

While both wills and trusts are important estate planning tools, a revocable living trust is often the smarter choice for Hawaii real estate owners who want to avoid probate, protect their privacy, and simplify things for their loved ones.

If you’re unsure where to start, I always recommend speaking with an estate planning attorney familiar with Hawaii law. And if you’re buying or selling property, I’m happy to connect you with trusted professionals who can help you structure ownership to meet your long-term goals.


Have questions about buying, selling, or managing property in Hawaii? Let’s talk.

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