Last Updated on August 30, 2020 by MoneyVisual
Outlining the key differences between Wills and Trusts, two documents which are often misinterpreted as the same because they are both used for outlining a person’s wishes regarding the distribution of his or her estate after death.
The primary difference between the two is that a Will is not enacted until the person’s death, whereas a Trust takes effect from the moment that it is signed. There are other significant differences between Wills and Trusts, such as the property they cover, requirements for probate, and publication after the person’s death.
Infographic Source: I Will Solicitors