Which is Better: A Will Or A Trust?
We are often asked by clients if they need a will or a trust. Our answer is that decision depends on their individual and family situations and goals. One main advantage to a trust is that it helps avoid probate and the costs and public exposure that can come with that legal process.
Many clients prefer to invest the time and money on the front end of their planning and form a trust to better control the distribution of their assets than to rely on the courts to do so through a public and potential costly probating of a will in the future.
However, a number of clients choose to follow other probate avoidance strategies and opt for a comprehensive simple will package to address their lifetime and end-of-life medical and financial concerns. There is no one “right” answer, as each individual and family situation is different.