What’s the Difference Between a Trust and a Will?

There are many things that are in the minds of elderly people who have a lot of money. They have a lot of assets and they know that the game of life is slowly coming to a close for them! As a result, they want to be prepared to leave something behind to their potential kin. With that being said, if someone does not have a distinct will, then the chances of their kin fighting over assets is high.

Key Takeaways:

  • People are smart if they are too plan ahead in their respective lifetimes on this planet.
  • Not having a will has caused there to be some massive fall outs between families on many occasions.
  • If you are someone who is very rich, you definitely need a will that will help split things up.

“In general, a trust is an arrangement in which one party, the trustor, allows another party, the trustee, to hold the title to their assets on behalf of a beneficiary, says USA.gov.”

Read more: https://blog.allstate.com/difference-trust-will/

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