What is the difference between a Will and a Trust?

Wills are potentially subject to Probate, whereas well-drafted and fully funded Trusts generally are not. In other words, if you die with only a Will, and have more than $150,000 in assets (excluding those assets identified elsewhere on this website), a Probate will be required. Whereas if you die with a Trust, assets transferred to the Trust before death are generally not subject to Probate. In a comprehensive estate plan, you will likely need both a Will and a Trust. See Estate Planning page.