What Is the Difference Between a Will & a Living Trust?
Both a will and a living trust are legal documents that spell out a person’s wishes when she can no longer make her own decisions. When a person dies or is incapacitated, a will or a living trust can help family members make difficult decisions. A will is a document that provides instructions on how to disburse a person’s assets following her death. A living trust puts a person’s assets under the control of a trustee for management during the person’s lifetime and distribution of the balance at the person’s death.
