What is the difference between a trust and a will?

A trust and a will are both legal documents that help protect your assets and estate after you have passed away. However, they are different in several ways. A will is a document that states how you want your assets and estate to be distributed after you have passed away. It also specifies who will manage the distribution and who will inherit your assets. In Washington, a will must be signed and witnessed by two people to be valid. A trust is similar, in that it also helps protect your assets and estate after you have passed away. However, a trust is set up while you are still alive. It is managed by a trustee and specifies the beneficiaries who will receive the assets and estate. A trust is often used to avoid probate and to manage assets for minors or disabled people who can’t manage their own assets. In summary, a will is a document made after you have passed away that states how you want your assets and estate to be distributed. A trust is a document made while you’re still alive that allows you to choose how your assets and estate will be managed, who will manage them, and who will receive them. Both documents are important when it comes to Elder Law in Washington.

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What is the difference between a trust and a will?

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