Estate Planning: Benefits of a Trust vs. a Will
Summary: A trust can provide more control over the distribution of assets A trust can avoid probate and keep estate matters private A trust can provide tax benefits A will is more straightforward and less expensive to create Both a trust and a will can be essential estate planning tools depending on your circumstances Estate planning is essential to managing your assets and ensuring your loved ones are provided for after you're gone. Two common estate planning tools are trusts and wills. In this article, we'll explore the benefits of a trust vs. a will in Pensacola and help you choose the right estate planning tool for your needs. Understanding Trusts and Wills A trust is a legal entity that holds assets for the benefit of beneficiaries. At the same time, a will is a legal document that outlines your wishes to distribute your assets after your death. A trust and a will can be essential estate planning tools, but they funct...