http://www.farmestateplanners.com/trusts-and-estates/what-is-the-difference-between-wills-and-estate-trusts Farm Estate Planners Help Keep the Farm in the Family Thu, 06 Jan 2011 12:57:59 +0000 hourly 1 http://wordpress.org/?v=3.3 http://www.farmestateplanners.com/trusts-and-estates/what-is-the-difference-between-wills-and-estate-trusts/comment-page-1#comment-84 alaskasourdoughman Thu, 19 Nov 2009 05:38:59 +0000 http://www.farmestateplanners.com/trusts-and-estates/what-is-the-difference-between-wills-and-estate-trusts#comment-84 A will distributes estate assets only after death. A trust designates distribution of assets prior to death, and puts the assets into Trust to be managed by a Trustee until the death of the Grantor/Settlor. The grantor no longer owns the trust property, the Trust does, but he/she can designate use of the assets until he/she dies. A trust protects the property from someone trying to sue or garnish the Grantor's property because he/she does not own it in title - the Trust owns it; it is no longer in his/her name. Most trusts allow the Grantor the beneficial use of assets until he/she dies like use of the house, vehicles, land, etc. It is protection and designation of beneficiary distribution before the Grantor dies. A trust can be revocable - disolved at the wish of the Grantor and property returned to the Grantor, or Irrevocable - permanent distribution to the Trust for protection or safe keeping and for beneficiaries after death of the Grantor.<br><b>References : </b><br> A will distributes estate assets only after death. A trust designates distribution of assets prior to death, and puts the assets into Trust to be managed by a Trustee until the death of the Grantor/Settlor. The grantor no longer owns the trust property, the Trust does, but he/she can designate use of the assets until he/she dies. A trust protects the property from someone trying to sue or garnish the Grantor’s property because he/she does not own it in title – the Trust owns it; it is no longer in his/her name. Most trusts allow the Grantor the beneficial use of assets until he/she dies like use of the house, vehicles, land, etc. It is protection and designation of beneficiary distribution before the Grantor dies. A trust can be revocable – disolved at the wish of the Grantor and property returned to the Grantor, or Irrevocable – permanent distribution to the Trust for protection or safe keeping and for beneficiaries after death of the Grantor.
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]]> http://www.farmestateplanners.com/trusts-and-estates/what-is-the-difference-between-wills-and-estate-trusts/comment-page-1#comment-83 Thomas J Thu, 19 Nov 2009 05:07:59 +0000 http://www.farmestateplanners.com/trusts-and-estates/what-is-the-difference-between-wills-and-estate-trusts#comment-83 a will goes through probate court a revocable trust can function similarly to a will without having to go through probate. you just have to put your assets into the trust and name yourself trustee<br><b>References : </b><br> a will goes through probate court
a revocable trust can function similarly to a will without having to go through probate. you just have to put your assets into the trust and name yourself trustee
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