With regard to real and personal property, what are the advantages and disadvantages of having a will as opposed to a trust?(300 + words)© BrainMass Inc. brainmass.com October 1, 2020, 9:41 pm ad1c9bdddf
Will versus a Living Trust:
1. A will is much easier to prepare and can be hand written (holographic), signed, witnessed and be legal.
2. A trust is much more complex and requires either the preparation or review by an attorney. Differences in state laws suggest that a personalized document be prepared. In addition, the advice of an attorney regarding distribution of assets can be invaluable.
3. A trust is obviously much more expensive than a will, even if the will is prepared by an attorney.
4. A trust requires the ...
The solution consists of a list of 11 points including advantages and disadvantages of a will versus a trust. Each of the 11 points has a sentence or two in explanation. There is also a conclusion.