Wills & Trusts: What Are They, What's the Difference, and What Do I Need?
A will is a legal document that becomes effective ONLY upon your death and details how you want your property distributed. All property left in a will must go through probate court.
A living trust, on the other hand, is in effect while you're still living; you transfer property into the trust, yet you still have control of the trust and can make changes or additions. Property distributed via living trust is generally not subject to probate, thus you can avoid the time & expense of probate by utilizing a trust. Probate avoidance is a goal we help many clients achieve with their estate planning every day.