Choosing a will-based estate plan or trust-based plan involves important considerations. Both wills and trusts provide instructions on where your assets and property will pass at death, but that’s where the similarities end.
When done properly, trust-based plans can avoid the unnecessary costs and delays associated with probate, both during life and after death. Wills almost always cannot and will not accomplish this important goal. Furthermore, a will must be recorded at death, and thereafter it is a public record. Trusts aren’t required to be recorded at death, ensuring the details of your plan will remain private.