What is the difference between a will and a trust?

A will and trust are both important tools of estate planning law in Idaho. However, they differ in many ways. A will is a written document that explains how you want your property and money to be handled after you pass away. Your will can also designate a guardian for your minor children. When your will is filed with the court, it becomes a public record. A trust is a legal arrangement that you set up to manage your property and assets while you are living, and after you pass away. With a trust, you choose a trustee to manage and distribute your property and assets according to instructions you set up in the trust document. A trust does not become part of the public record, so it is more private than a will. Another major difference between a will and a trust is that when you die, a will must go through the probate process in order to be validated and for your wishes to be carried out. Probate is a time consuming and expensive process. On the other hand, a trust does not have to go through the probate process and can be quickly and easily administered by the trustee. It is important to note that while both a will and a trust can be used to ensure that your property and money is distributed according to your wishes, a will does not provide the same level of privacy as a trust. Ultimately, consulting with an estate planning attorney in Idaho can help you create an estate plan that meets your specific needs and goals.

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What is the difference between a will and a trust?

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