Do I really need a will or a trust? Won't all of my possessions and money go directly to the people I love most anyway?

The law makes assumptions about whom you love, and those assumptions are not accurate in every situation. A will or trust will ensure that your assets go directly to those people who are important to you, not who the government thinks should be important to you.

Also, if you die without a will or trust, your heirs could be faced with long and expensive probate proceedings. A simple will or trust now could alleviate a very big headache for your loved ones later.

Which is better, a will or a trust?

This really depends on what sort of assets you have. If you do not have a complicated financial life, a will is likely sufficient for you. However, if you own multiple pieces of real property (not as a joint tenant) or have substantial assets, a trust would be the better estate planning device for you, as it accomplishes the goal of quickly and efficiently transferring your assets to your loved ones without the need for a formal probate case in court.