Probate is a public, court-supervised process that opens after death: the court validates the will (or, if there is none, applies the state's intestacy rules), appoints an executor or administrator, and oversees the process of paying debts and distributing remaining assets to heirs or beneficiaries. Because it runs through the court system, probate records are generally public, and the process follows the procedural timeline of that specific probate court.

Most estates with assets solely in the deceased person's individual name go through probate in some form, though many states offer a simplified or expedited process for smaller estates that fall under a certain size threshold set by that state's law.

A living trust (sometimes called a revocable living trust) is created while a person is alive. That person — the settlor or grantor — transfers ownership of assets into the trust and typically continues managing them as trustee during their lifetime. Upon death, a successor trustee takes over and distributes the trust's assets to the named beneficiaries according to the trust document's instructions, without needing court supervision.

The key requirement for a living trust to actually avoid probate is 'funding' it — meaning the person must formally retitle assets like real estate, bank accounts, and investment accounts into the trust's name during their lifetime. A trust that is signed but never funded provides little practical benefit, since unfunded assets still pass through probate.

A living trust is often chosen to avoid the time, cost, and public nature of probate, and to provide a smoother transition of asset management if the settlor becomes incapacitated before death, since a successor trustee can step in without needing a separate court-supervised guardianship or conservatorship process.

Many estate plans use both tools together: a living trust to hold major assets and avoid probate for those, alongside a 'pour-over' will that catches any assets accidentally left outside the trust and directs them into it through probate, acting as a backstop rather than the primary distribution method.

Setting up and properly funding a living trust generally costs more upfront than a simple will, because it requires drafting the trust document and retitling assets, sometimes with the help of an attorney for real estate and financial accounts. The tradeoff is typically lower cost, faster distribution, and more privacy after death, since the trust does not become a public probate record.

Whether a living trust makes sense depends on the size and complexity of the estate, the types of assets involved, and the person's priorities around privacy, speed, and avoiding a court process — an estate planning attorney can help evaluate those tradeoffs for a specific situation.