Wills vs Trusts

A will is a legal document outlining your preferences for distributing all your assets after your death.

In contrast, a trust is an arrangement where a person (the grantor) grants another individual (the trustee) the authority to manage specified assets for specific beneficiaries.

A will becomes effective upon the testator's death, whereas a trust becomes operational immediately upon its creation and signing by the grantor.

For assets to transfer to chosen beneficiaries, a will must undergo the probate process, whereas a trust can circumvent this process entirely.

Typically, a will becomes a matter of public record, while a trust remains a private document.