What is the difference between a Will and Trust?

Some key differences between a Will and a Trust:

• A Will can only go into effect upon your death, while a trust can manage property during your life and after your death.
• Individuals can only have one valid Will at a time, while you can have as many trusts as needed to protect your property.
• A Will often goes through probate court, while a Trust will typically avoid probate, saving your beneficiaries time and money.
• A Will that is probated becomes a public document after your death, while a trust almost always remains private.

A Will can name a guardian for minor children while a Trust can not name a guardian for minor children.