📅 2026 Update: Key Changes in Wills and Trusts

Since the original article was written, there have been significant updates regarding estate planning, especially in the areas of estate tax exclusion and electronic wills. These changes impact how individuals may consider their estate planning strategies going forward. More detailed information on wills and trusts follows further down this page.

🏛️ Estate Tax Exclusion Increase

The estate tax exclusion has risen to $15 million for 2026, thanks to the Working Families Tax Cuts Bill signed into law on July 4, 2025. This means that only estates valued over this amount will face federal estate tax, making tax planning more crucial for larger estates.

📃 Estate Tax Exclusion Reversion

While the estate tax exclusion increased, it will revert back to $5 million in 2026, adjusted for inflation, as part of the Tax Cuts and Jobs Act. This change will affect how estates are managed and planned for future generations. It highlights the importance of staying informed on tax laws.

💻 Electronic Wills Legislation

Starting September 12, 2026, Illinois residents who are terminally ill can request life-ending medication under the End-of-Life Options for Terminally Ill Patients Act. This legislation also allows for the creation of electronic wills, providing a modern option for those planning their estates.

💰 Costs of Living Trust Creation

Creating a living trust can cost between $1,000 and $3,000 when done through an attorney. This range highlights the need for individuals to budget accordingly when considering estate planning options, especially if they opt for professional assistance.

📅 Form 1041 Filing Deadline

Fiduciaries must submit Form 1041 by the 15th day of the fourth month after the end of an estate's or trust's tax year. Being aware of this deadline is essential for timely tax reporting and compliance.

📌 Key Takeaways

  • Estate tax exclusion is now $15 million for 2026.
  • The exclusion will revert to $5 million after 2026.
  • Electronic wills are now allowed in Illinois for terminally ill patients.
  • Costs for living trusts range from $1,000 to $3,000.
  • Form 1041 must be filed by the 15th day of the fourth month after the tax year ends.

💡 Practical Tips for Estate Planning

Review your estate plans and discuss the details with your attorney. Understanding your specific situation will help you make informed decisions.

📝 Update Your Estate Documents

With the changes in estate tax exclusion, it's wise to update your wills and trusts. Ensure your estate plan reflects current laws and your personal circumstances.

📊 Monitor Tax Law Changes

Stay informed about tax laws that affect estate planning. Laws can change frequently, impacting how much tax your estate will owe.

👨‍⚖️ Consider Professional Help

If you're creating a living trust, consider hiring an attorney. They can provide guidance and help you navigate the various requirements.

📅 Set Reminders for Deadlines

Mark important deadlines in your calendar, such as the Form 1041 filing date. Being proactive will help you avoid penalties or late fees.

💻 Explore Electronic Will Options

If you're in Illinois, consider the new electronic will options. This can streamline the process, especially for those with terminal illnesses.

🏆 Services for Wills and Trusts Ranked by User Reviews (2026)

This section highlights various services that assist with estate planning, including wills and trusts. The following listings are based on Trustpilot data from October 2026. Ratings can vary over time, and customer experiences may differ, so consider these factors when choosing a service.

🥇 1. TotalLegal

TotalLegal has been rated 4.6. This service is known for providing affordable legal documents and a user-friendly interface. However, some users report occasional formatting issues with their documents, so it's advisable to check your documents carefully.

🥈 2. Quicken Willmaker

Quicken Willmaker holds a Trustpilot score of 4.5. It is recognized for its estate planning software, which allows users to create customizable legal documents. Some users have encountered issues with software updates, which may affect their experience.

🥉 3. Trust & Will

Trust & Will has earned a 4.5 rating. This service is known for offering online estate planning tools, including digital wills and trusts. However, some reviewers mention problems with document delivery times, which could impact planning timelines.

4️⃣ LegalZoom

LegalZoom has a Trustpilot score of 4.6. It is known for its legal document preparation services and business formation assistance. Some users have expressed concerns about delays in customer support response times, which may be something to consider when needing immediate help.

5️⃣ Rocket Lawyer

Rocket Lawyer also holds a 4.5 rating. This service provides online legal services, including various document creation tools. A few users find the subscription model pricing unclear, which could affect budgeting for long-term use.

🆓 Free IRS and Nolo Resources

The IRS offers free resources and publications on estate and gift taxes, which can help individuals understand their obligations. Nolo also provides free articles and guides on wills and trusts, making it easier for individuals to learn about estate planning.

🔎 What to Compare When Choosing a Service

  • 💰 Cost of services
  • 📊 User ratings and reviews
  • 📝 Types of documents offered
  • ⏰ Customer support availability
  • 📅 Ease of use and navigation

❓ Frequently Asked Questions

❓ What is the estate tax exclusion for 2026?

The estate tax exclusion for 2026 is $15 million, which applies to estates valued above this amount.

🕰️ How long does the probate process take?

Typically, the probate process takes a few months to a year, depending on the complexity of the estate and state laws.

📄 What is Form 1041 used for?

Form 1041 is used to report income, deductions, gains, and losses for estates and trusts to the Internal Revenue Service.

💻 Can I create an electronic will?

Yes, as of September 12, 2026, Illinois allows for electronic wills for residents who are terminally ill.

⚖️ What are the costs involved in creating a living trust?

Creating a living trust typically costs between $1,000 and $3,000 when done through an attorney.

📅 When is the estate tax return due?

Estate tax returns are generally due nine months after the date of death, with a possible six-month extension available.

⚖️ Recent Court Cases Related to Wills and Trusts

Recent court rulings have focused on various aspects of estate planning, including the validity of electronic wills and the interpretation of trust documents. These cases can set important precedents for how wills and trusts are handled.

For more information on recent rulings, feel free to browse more rulings on the news page.

End of October 2026 Update





A trust is a legal instrument that is used for the distribution of assets and estate in the case that person or individual becomes deceased. A trust is a way to protect a person’s assets and estate, both during thatparticular individual’s life and afterward. 

A trust will prove to be similar to will in the sense that both allow for the control of distributing a person’s estate after death, though there are substantial differences among the two.

Wills vs. Trusts


Wills vs. Trust


One of the main issues that will differentiate wills and trusts is the issue of probate. In general terms, wills will be subject to the legal process of probate, while wills will usually avoid the probate procedure altogether. This is the result of overall nature of both legal instruments, which are contingent in terms of the actual event which initiates or engages the will or trust. 

In other words, wills are put into effect in the event of a person’s death, while a trust can be enacted during a person’s lifetime. A trust allows for a person to control and oversee his/her assets or estate, essentially holding such assets in the trust for the future benefit of the included beneficiaries of the trust.

In such a situation, the trust will not be subjected to probate procedures, which can help avoid costs incurred by the process of a will being subjected to probate. It should be noted that a will is considered to be less expensive to create than a trust, though a trust is usually not subjected to probate, which can prove to be more expensive in the long run. 

Another main difference between wills and trusts is the concept of confidentiality. A will is usually entered into public record upon the testator of the will’s death. On the other hand, a trust will usually remain a private matter, allowing for the parties involved to keep all aspects and terms of the trust confidential. 

Taxation of the estate is also a major differentiating factor between a trust and a will. It is generally accepted that a trust can provide for more benefits when it comes to property and estate taxes. 

However, how such taxes are to be applied in relation to trusts will depend on the jurisdiction. Many states will often times allow for a certain amount of the trust assets to be distributed without incurring any estate or gift taxes. 

Though the overall amount may vary, it is usually recommended that if the assets are valued at over $650,000, that a skilled trust attorney or lawyer be consulted in order to develop the trust. 

The administrating and management of a trust is also different from that of a will, particularly in because a trust will be used, handled, and controlled by the person that creates during his/her lifetime in most cases; wills are only enacted upon the testator’s death.

Furthermore, wills most often times use family members or relatives as the executors of will, while trusts are typically assigned to professionals, typically attorneys, accountants, or financial planners as the trustees of the will.