Every family wants to leave a lasting legacy, one that protects loved ones, passes assets forward, and honors final wishes. In Illinois, the two most common estate planning tools for accomplishing these goals are wills and trusts. While both help distribute property after death, they work in different ways. Understanding those differences is the first step to building a plan that truly fits your family.
At Gateville Law Firm, our Sugar Grove estate planning attorney explains the difference between wills and trusts in clear, simple terms. We design customized estate plans designed to prevent family arguments, lower your estate taxes, and give your family peace of mind.
What Is a Will?
A will, formally called a Last Will and Testament, is a written document that says how your property should be distributed after your death. It allows you to name beneficiaries, appoint an executor to handle your estate, and even designate guardians for your minor children.