The Benefits of a Trust vs. a Will

While a Last Will and Testament will direct your executor how to distribute your property, your executor will be required to go to probate court to collect and distribute your property, opening up your estate to the public eye and making it easier for creditors to come after your estate.

A trust is effective during your entire life (as opposed to a will, which is only effective on death). This means that if you are disabled or incapacitated, your trustee will be able to seamlessly manage your property, while being held accountable by the terms of the trust to follow your instructions as laid out in the trust.

You choose who inherits your property – and you control who does not. You can gift property to your child in trust, for example, meaning that your child inherits the property but if they get a divorce, their ex-spouse doesn’t walk away with half of what you spent a lifetime building!

A trust is extremely flexible. A trust doesn’t need to be witnessed or notarized (unlike a will) so anytime you want to change your trust, you can call us up and we can quickly draft an amendment. It’s easy to change your trust when your life changes.

Contact us at info@barrylawinc.com or call us at (773) 779-6100 to get started on your estate plan. Trust us, you’ll have peace of mind when you’re done!