How a Will and a Trust are similar

  • Both you can leave property to an individual, e.g. children
  • Both you can appoint a personal representative
  • Both you can name a beneficiary for your property
  • Both you can make changes as needed

How a Will and a Trust are different

  • With a will you can name guardians for your minor children and their property. Not with a trust.
  • With a will you can leave your last wishes. Typically, a trust is not used for this purpose.
  • With a trust you can avoid probate. A will you do not.
  • With a trust you can keep its terms private. A will you can’t because of the need to probate it.
  • When you are finished with your will you will need to sign it in front of witnesses. A trust has to be notarized.
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