In estate planning, one of the most common questions we encounter is:

“Should I have a Will or a Trust?”
The answer is not as straightforward as choosing one over the other. In practice, the decision is highly personal, strategic, and dependent on individual circumstances.

Understanding the Difference

What is a Will?
A Will is a legal document governed by the Wills Act [Chapter 6:06], which sets out how a person’s assets are to be distributed upon death.

It enables you to:

• Decide who inherits your assets
• Appoint an executor
• Provide instructions for the administration of your estate
• Create testamentary trusts for beneficiaries

A Will takes effect only after death.

What is a Trust?
A trust, on the other hand, is a legal arrangement where assets are vested in the Trustees, who hold and administer them for the benefit of beneficiaries.

As highlighted in our trusts guide, trusts are widely used in Zimbabwe for:

• Asset protection
• Wealth preservation
• Succession planning
• Multi-generational ownership

A trust can operate during your lifetime (inter vivos) or after death (testamentary trust).

Key Differences: Will vs Trust

a) A will takes effect after death whilst a Trust can operate during the lifetime of the Founder in perpetuity or after death (testamentary trust)
b) In a will, control of assets ends upon death whilst through a Trust, once the property is transferred to the Trust control is vested with the Trustees
c) In a Will, asset protection is limited as property remains in the testator’s name and through a Trust there is strong asset protection because of the separation of ownership
d) A will is not flexible as there are fixed instructions and a Trust is highly flexible especially discretionary trusts
e) For a will to be enforceable, the beneficiaries have to go through the estate administration process through the Master High Court whilst a Trust is a continuous structure
f) The cost of drafting and registration of a will is generally lower whilst a Trust has higher set up and administration costs

When is a Will Appropriate?
A Will is often sufficient where:

• The estate structure is relatively straightforward
• There is a need to clearly distribute assets upon death
• The priority is to appoint an executor and avoid intestacy
• There is no immediate need for asset protection during lifetime
• Some provisions cannot be made through a Trust eg, burial arrangements and sharing of personal belongings

A Will is the minimum and essential starting point in estate planning.

When is a Trust Appropriate?
A trust may be more suitable where:

• There is a need for asset protection from creditors
• The client seeks long-term wealth preservation
• There are minor or vulnerable beneficiaries
• There is a desire for continuity beyond death
• The estate includes business interests or high-value assets

Trusts are particularly useful in complex estates and multi-generational planning.

The Practical Reality: It Is Not Either/Or
In practice, the question is rarely Will vs Trust. More often, the answer is:

Will + Trust (structured correctly)

For example:

• A Will can distribute assets into a testamentary trust
• A living trust can hold key assets during lifetime
• The two instruments can work together to create a complete estate plan

Why There Is No “One-Size-Fits-All” Answer
Estate planning is inherently subjective. What works for one individual may be entirely unsuitable for another.

Key factors include:

• Nature and value of assets
• Family structure and dependants
• Business interests
• Risk exposure
• Tax considerations
• Long-term wealth objectives

Following trends or adopting structures without proper advice can lead to ineffective or even harmful outcomes.

A Strategic Approach to Estate Planning

• Estate planning is not about documents it is about strategy
• Wills and Trusts are not competing tools they are complementary instruments.

Follow your circumstances, your objectives, and proper professional advice. The key is not choosing one over the other but choosing the right structure for you.

If you require assistance on estate planning, our team would be pleased to assist on info@mmmlawfrim.co.zw.