What is the difference between a will and a trust?

A will and trust are two types of estate planning instruments used to transfer assets upon death. In California, wills are typically used to transfer assets that are not held in a trust, while trusts are used to transfer assets that are already held in a trust. A will is a legal document that states the wishes of the deceased regarding the distribution of their estate upon death. A will states who will be the executor of the deceased’s estate and how their assets will be distributed. In California, a will must be in writing, signed by the testator, and witnessed by two adult witnesses in order to be valid. Unlike a will, a trust is a legal arrangement that involves a third party, such as a trustee, who holds legal title to assets for the benefit of the beneficiary. The trustee manages and distributes the trust assets based on the deceased’s instructions. Trusts are typically used to ensure that assets are passed on to the beneficiary without passing through the probate process. In California, a trust must be in writing and signed by the testator in order to be valid. In summary, a will is a document that states the wishes of the deceased regarding their estate, while a trust is a legal arrangement that involves a third party and is typically used to avoid probate.

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What is the difference between a will and a trust?

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