Both put your wishes in writing. The difference is what your family has to do afterwards, and how public it is.
A will
Simpler and cheaper to prepare. It takes effect at death and must be admitted to probate, which is a court process, a matter of public record, and in Illinois usually takes the better part of a year.
A revocable living trust
Costs more up front and only works if it is funded — assets actually retitled into the trust. In exchange, the estate passes privately, without probate, and a successor trustee can act immediately if you become incapacitated.
Which one suits you
Modest estate, straightforward family, everything held jointly or with beneficiary designations: a will is usually enough. Property in more than one state, a business, a blended family, a beneficiary with special needs, or a strong preference for privacy: the trust generally earns its cost.
Either way
You still need powers of attorney for property and health care. They are the documents that matter while you are alive, and they are the ones families most often wish they had.
