Should I include a trust or will in my estate plan?

When deciding whether to include a trust or will in your estate plan, it is important to understand the differences between these two legal documents. A will is a legal document that outlines how an individual wants their property and possessions distributed after they pass away. A trust is a financial arrangement that allows an individual to transfer assets to a beneficiary in a more efficient way than a will. In Maryland, both trusts and wills can provide essential protection for your family and assets. A will is the most common way to make sure that your estate is divided and distributed as you wish. However, a trust can provide additional benefits, such as avoiding probate court costs, and provide greater control over how the assets are managed and distributed. Ultimately, the decision on whether to include a trust or will in your estate plan depends on your individual goals and needs. It is important to consider all aspects of the estate and determine which legal document will best provide the protection you need. A qualified estate lawyer or financial adviser can help you understand the differences between trusts and wills and decide which option is best for you.

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Should I include a trust or will in my estate plan?

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