– Wills are public documents that anyone can access. A trust, on the other hand, is a private document that’s accessible only to the trustee and their chosen designates.
Preferable Tax Treatment
– Trust accounts have lower individual and estate taxes than wills.
Control of Asset Distribution
– A trust allows you to pay out inheritances in smaller payments, and to condition them according to the attainment of specified milestones.
Ease of Use
- A trust can be set up without an attorney, without witnesses, never has to be brought to court and can’t be challenged.