Respuesta :
Answer:
A will and a living trust are both esate planning tools but they serve different purposes.
Explanation:
Both a will and a living trust allow their owners to name beneficiaries for their estates both a main difference beteen the two is that while a will only goes into effect after the death of the maker, a living trust becomes effctive as soon as it is created. Although these two are different, they can however be used together for a more complete property plan.
Other differences are as follows:
- The terms of creating a living trust are more complicated than that of a will
- While a living trust is a document that can facilitate the distribution of an individual's property or estate before death or after death, the will only facilitates this distribution after death and the appointment of a legal representative.
- A while basically covers only the property or estate in an individual's name after death while a living trust additional covers properties that is jointly owned but has bbeen transferred to the trust.
- While a will must be overseen by a court through a legal representative, a living trust does not pass through probate and does not require the involvement of a court.
