The Difference Between Trusts and Wills

Do you know how to decide whether or not you need a trust, a will, or both? Most people partner with an experienced estate planning lawyer when putting together their strategy for their estate.

A lawyer can help you review existing estate planning documents and help you decide what assets will be passed through a trust versus your will.

Attorney Neel Shah recently shared the difference between a will and a trust with the Tribune. He says, “A will is like leaving your family a recipe to bake a cake after you’ve passed away.” In this analogy, someone in your family would have to go buy the ingredients to make the cake and prepare them in the right order.