A will is the legal way to state your preferences of how you would like your estate to be handled after your death. It should be used to ease the process by transferring your property swiftly, while avoiding tax burdens for your loved ones.
A trust is a tool most commonly used to replace or supplement a will. However, it can also be used to help manage your property during life. A trust dictates the distribution of your property by transferring the benefits and duties to different people.
Read on the learn about the specifics and how to set up a will or trust of your own.