A will allows you to control what happens to your property after you pass away. The property which you may control in this manner may be anything that you value, even if it has no retail value. Examples of property that may be included in a will are: jewelry, cars, your house, clothing, stocks in a company, and even family pets.
A trust may be created to hold your property until you decide the time is right for a specific person, group of people, or entity to have that property. When that time comes, the property automatically passes to the recipient you intended it for. Trust property can be disbursed to the recipient however you choose; whether, it be one, several, or periodic disbursements. The property that you may put aside in a trust is anything that you value, even if it has no retail value. It may also be possible to have the property, which is placed in a trust, remain in your control before the recipient receives it. Depending on your circumstances and what you would like to happen to your property, one or more of the following types of trust may be right for you:
Living (Inter Vivos) Revocable Trust
Living (Inter Vivos) Irrevocable Trust
Charitable and Honorary Trust
If you have previously made a will or living trust and would like to change it, that may be accomplished.
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