What is the difference between a will and a trust?

A will and a trust are two legal documents that are often used in estate planning. While both documents are intended to provide for the distribution of a person’s assets after their death, they accomplish that goal in different ways. A will is a document that states a person’s wishes regarding the distribution of their assets upon their death. It can also name an executor, the person responsible for carrying out the wishes of the deceased. Wills become effective upon the death of the individual and are overseen by the probate court until the terms of the will are fulfilled. A trust is a legal document that allows a person to create a legal entity that holds and manages their assets for the benefit of a third-party, such as a family member or charity. When the trust’s creator passes away, the assets of the trust are distributed according to the trust agreement instead of through the probate court. In Kansas, proper estate planning with a will or trust is essential in order to manage one’s finances in the event of their passing. Elder law attorneys in Kansas can provide guidance and assistance with developing and creating wills and trusts. Ultimately, it is important to understand the differences between wills and trusts and to seek professional legal advice in order to ensure one’s wishes are carried out after their death.

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What is the difference between a will and a trust?

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