Trusts Vs. Wills

A will is a core estate planning document that explains how your assets should be distributed after your death. In New York, wills typically go through probate, where the court oversees the process of validating the will and distributing assets.

Benefits of a Will:

• Identify who should receive your assets
• Name a guardian for minor children
• Appoint an executor to manage your estate
• Provide clear instructions for distributing property

A trust allows assets to be managed during your lifetime and transferred to beneficiaries after death without going through probate.

Benefits of a Trust:

• Avoid delays in the probate process
• Transfer assets more efficiently to beneficiaries
• Maintain greater privacy for family matters
• Control how and when assets are distributed

For many New York families, wills and trusts work together to create a complete estate plan that protects assets and provides clarity for loved ones. An estate planning attorney can help determine which tools are appropriate for your situation. Speak with an estate planning attorney today to discuss your concerns and explore your options.