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Maryland Workers Compensation Attorneys > Maryland Estate Planning FAQs > What is the difference between a will and a trust?

What is the difference between a will and a trust?

Video Transcription:

Although both will and trust are both revocable and modifiable, a will has to be recorded and filed with the country and it becomes public information. You have a personal representative who has to probate your assets and file accountings with the court. The court also has to approve the final distribution before the estate is closed. With a trust, a trust is a completely private document. It provides great control and creativity, whereby you can determine how and when your beneficiaries receive their portion of your estate. It’s also a way to avoid probate and make for immediate distribution of your assets to your beneficiaries without having a waiting period.

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