A trust serves as a legal conduit that empowers you to designate a trustee (which could also be you) to oversee assets for the benefit of one or more beneficiaries. Primarily, trusts are categorized into two types: living trusts and testamentary trusts. A distinctive feature of faith is its adaptability.

Contrary to the constraints of disbursing estate assets by the conclusion of the probate process, a trustee has the latitude to administer trust assets over an extended period.

Living Trusts

What distinguishes a will from a living trust is that the grantor (the individual forming the trust) must transfer property into the trust, typically through a title change, designate a trustee to handle the assets, and identify at least one beneficiary. You can also be your trustee.

Your living trust becomes operational when you affix your signature to it and generally turns irrevocable upon your demise. Assets held in your trust bypass the probate process. Therefore, your successor trustee can carry on with the administration of the trust assets without any disruptions due to probate proceedings.

At ARC, our legal team provides wills, trusts, and estate planning services to clients throughout the US. Since 2008, we’ve offered counsel to individuals, couples, and families on wills, beliefs, and other vital estate planning instruments.

What is Better, a Will or Trust?

Choosing between a will and trust largely depends on your circumstances and goals. Essentially, a choice outlines your wishes after your death, while a trust goes into effect as soon as it’s created. A trust provides more control over your assets and can help your heirs avoid probate.

 However, creating a trust can be more costly and time-consuming. At ACE Rehoboth, we take the time to understand your needs and guide you through the intricacies of both wills and trusts, helping you make an informed decision.