What is the difference in trust funds and wills?

Answer by  madmax (25)

A trust fund is a specific account or group of accounts that set up any time without a death necessary to disperse and estate. A will is a document which specifies the specifics of the dispersements of moneys and property after someone's death.

Answer by  janedoe (701)

A will is a document that distributes all of a person's property after they die. A trust fund is a specific money account to be distributed for a specified purpose.

Answer by  Cecilia (2828)

A trust fund is an entity that is set up to hold some form of assets (cash, property, stocks, etc) and is directed by the trustee based on the original papers. A will is a paper a person writes indicating their preferences for their assets after death.

Answer by  John (9008)

A trust fund is established while a person is alive, and includes detailed instructions for handling property. The instructions remain after a person dies, and the money is owned by the trust. A will gives ownership after death.