What is the difference between a Will and a Revocable Living Trust?

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Accepted Answer

This is another common question. Both of these documents are often found in a foundational estate plan. Both a Will and a Trust are legal documents that specify how your assets should be distributed. The main difference lies in how they distribute those assets.

• A Will replaces the default probate court rules on how to distribute your assets, but does not avoid probate. So your estate will still have to go through probate. 
 • A Trust, on the other hand, allows you to avoid probate entirely. By using a trust the assets can be distributed to your beneficiaries outside of the probate court process.

A Trust is private, and in my opinion more efficient way to manage and pass on your assets.

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