Confused about the differences between a will and a trust? If so, you are not alone. While it is always wise to contact experts like us, it is also important to understand the basics. Here is a quick and simple reference guide:
What a Revocable Living Trust Can Do – That a Will Cannot
What a Will Can Do – That a Revocable Living Trust Cannot
What Both a Will & Trust Can Do:
WARNING: There is such as a thing as irrevocable trusts, which cannot be changed without legal action. This is outside the scope of this discussion.
While some of the differences between a will and trust are subtle; others are not. Together, we will take a look at your goals as well as your financial and family situation to design an estate plan personalized to your needs. Call Bailey & Peterson, PC today to schedule your virtual consultation to get the process started.