Question by  Heidi57 (11)

Is a will or a trust better to protect your family and assets upon your death?

I would like to understand the difference between a will and trust as well as know which will serve my family best.


Answer by  Binome (1975)

A trust is when you pay a third party a fee to take care of your estate and see to it that your family is taken care of. A will would simply give your property directly to the people you wish. Unless your holdings are complicated, a will is fine.


Answer by  catneb (97)

A will is subject to probate and trusts are not. Revocable trusts leave you in control, and irrevocable trusts cannot be altered but avoid estate taxes and provide asset protection.


Answer by  worker2746 (2434)

A trust is made to protect your assets, and a will tells you what to do with the assets after death.


Answer by  mammakat (11147)

Unless you are willing to do a great deal of reading and research, and maybe still come out badly, you need to consult an attorney, tax advisor or accountant. Often your Senior Center will help you find someone who will donate their time, or have workshops on this to help you. H&R Block may have information about workshops.

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