When planning for the future, many people wonder whether a will or a trust is the better option. While both serve to distribute assets after death, they function differently and have distinct advantages. A will is a legal document that dictates how your estate should be handled after you pass away, whereas a trust allows you to transfer assets to beneficiaries while avoiding probate and offering more control.

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One key difference is that a will must go through probate, a court-supervised process that can be time-consuming and costly. This means your loved ones may have to wait months or even years before receiving their inheritance. On the other hand, assets placed in a trust bypass probate, allowing for a quicker and more private transfer of property.

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Trusts also provide greater protection and flexibility. For example, if you want to ensure that your children only receive their inheritance at a certain age or milestone (e.g., finishing university), a trust can enforce these conditions. Additionally, a trust can shield assets from creditors and help minimize estate taxes. However, setting up a trust involves more legal costs and maintenance, so it’s important to weigh your options carefully. Consulting an estate planning lawyer can help determine which option best suits your financial goals and family situation.