There are a plethora of differences between trusts and wills, and so you should know the difference between the two. This article will cover some fact-based differences so you are informed.

A will is a document which more or less “wills” how a dead person wants to allocate their assets. Wills must go through probate court in order to be settled and ensure the proper allocation of these assets. This often takes time and is on public record.

A trust is a legal arrangement where an assigned trustee manages somebodys assets. They can be setup during somebodys life, and often times are enacted to allocate resources after somebody’s death. These are usually private and don’t go through the court process.

Understanding the difference between these two is important for somebody managing their property.