What is the difference between a will and a trust?

A will and a trust are two different legal documents that can help you plan how your estate (assets and property) will be handled when you die. The main difference between the two is when the document takes effect. A will is only effective when you die, while a trust is effective immediately. A will is a legal document that allows you to specify who will inherit your assets and property after you die. You can also designate an executor to manage the distribution of your estate. The executor, in turn, must account for how the assets and property are distributed according to the instructions in the will. A trust is a legal document that allows you to transfer ownership of assets or property to another person or entity. It can be used to control and manage the use of assets and property during your lifetime, as well as after you die. Trusts are often used to minimize taxes or to control how assets are used after you die. In California, wills and trusts are both regulated by the Probate Code. It is important to consult an estate planning attorney to ensure that your will and trust are properly crafted to meet your needs and wishes.

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What is the difference between a will and a trust?

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