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How a Will is Different From a Trust

When you take a look at the life expectancy of adults you will realize that they still have time to create estate plans that can take care of them. When you try to find more about estate plans you will find that a will and a trust are two estate plan tools. An important thing one should note is that a will and a trust never have the same meaning. A thing that makes a will different from a will is that their purposes are different. You should know that a will can protect your property differently from a trust, which is why you should have more details about them. If you are planning to distribute your assets you have to make sure you know how a will is different from a trust. The article herein discusses how a will is different from a trust.

Firstly, when you look at the definition of a will you will find that it is a written document that shows how people want to disperse their property after they die. A trust is living since it provides a plan on how a third party can help manage your property when you are still alive. You can always decide where you want your property can go when you choose a trust since you will still alive. If you choose a will you have to know that it can have some particular directions.

When you take a look at the differences between a will and a trust you will realize that their characteristics make them different. You should know that in a will a judge is always the one who appoints the executor that will distribute the assets, but they can perform the function without being approved by the law. One needs to understand is that the executor can only distribute the assets depending on the instructions provided in the will. A thing that can help one differentiate a trust from a will is that in trust there is no need for the presence of a judge.

The people that have access to trust are different from those of a will, and this is also a thing that makes them different. If you choose a trust it means only the executor and beneficiary will know its content. A will has always been accessible by the public as long as it has been filed. In summary, one needs to understand the differences provided here to know the one that is better for them.