What are the Differences between Wills and Trusts?

Trusts and Wills serve different purposes in Estate Planning. Trusts can often avoid Probate courts, provide privacy, and offer more control over the distribution of assets to each Beneficiary via a named Trustee. Trusts can be Revocable or Irrevocable, with different Trusts serving different purposes. Wills are essential legal documents that specify how to distribute a person’s assets after their death. In a Will, a parent with minor children can also designate a Legal Guardian or Guardians to care for them.