Wills and trust are both elements of estate planning that help to ensure your assets are distributed as you see fit after you pass away; however, there are some key differences that are important to understand between these 2 types of end-of-life planning. A will is a written document that contains a person's desires on what is to become of their property, savings and other assets in the event of their death, as well as who is to be appointed guardian of the deceased's minor children. Wills can only become active following one's death, and all wills must go through a legal process known as probate where an authorized court administrator reviews the will. A trust is similar to a will except that it becomes active on the day it is written, and a person can choose to distribute their assets before their passing. Irrevocable trusts cannot be changed and are often created for tax purposes, whereas a living trust can be altered by the "grantor." Unlike wills, trusts do not have to go through probate and cannot be contested. Determining whether you need a will or a trust (or both) will depend on your personal circumstances and wishes. There are certain advantages and disadvantages to each option, so we recommend consulting with an estate planning attorney to find out which option is best for you and your family.