Category:
Estate Planning
Both documents establish who will be in charge and who will get what. The main difference is a Will must be taken to probate court to enforce and a Living Trust does not. Also, assets must be transferred to the Living Trust for the trust to control those assets. Trusts are usually more expensive to set up than Wills, but probate tends to be more expensive than a Living Trust. Which option is best depends on each person’s individual needs and wishes.
