The main difference between a will and a trust is the time at which they take effect. A will only takes effect upon the death of the person who made it, while a trust can take effect during the person's lifetime. Additionally, a will must go through probate, while assets held in a trust do not.
If you choose a will for your estate planning, you should make sure it meets the legal requirements of your jurisdiction, such as being signed by witnesses and being updated as necessary. You should also consider appointing an executor to carry out your wishes and distribute your assets according to your will.
If you choose a trust, you must transfer ownership of your assets to the trust. You should also name a trustee to manage the trust and distribute the assets according to your wishes.
There is no one-size-fits-all answer to whether a will or a trust is better for estate planning. It depends on your specific situation, preferences, and goals. It is advisable to consult with an experienced estate planning attorney to determine which option is best for you.
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