Thinking about your goals and wishes for after your death can be confusing. Not only are there many family considerations, there are legal needs and processes to be aware of as well. This is especially true if it’s your first time doing any estate planning.
There are two terms you probably see mentioned a lot: wills and trusts. While both can be used to express how you want to divide your estate, each have different requirements, as well as advantages and disadvantages. Here’s a quick rundown.