For people who are worried about how their estate will be passed down to their beneficiaries, the debate between drawing a will and establishing a trust is almost constant.
A will is a legally binding document though which you decide who gets what after you pass whereas a trust is a legal agreement. Through a trust, you give someone (a trustee) the authority to handle your assets for your beneficiaries. You can name a bank, a trust company, or a person as your trustee.
If you create a will your loved ones will have to go through probate court in order to access their inheritance. A probate attorney will also be present. Naturally, you will have to pay court and attorney costs for the whole process. That being said, making a will isn’t a very expensive endeavor and those with smaller estates don’t even need to establish a trust, which allows their families to skip probate court altogether.
For more information about the differences between a will and a trust, check this article out.
If you believe that having a will is best for your wishes and your family/ friends then you’ve come to the right place. We’ve put together a list of 6 online will makers that can make the whole experience easy and hassle-free.
Unsure if you should put your trust in an online will maker? Check this article out before going through our choices!
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