Legal Question in Wills and Trusts in Illinois

A will is a legal document that contains instructions governing the disposition of property and appointment of guardians, executors, trustees, etc. upon the decease of the person who created the document. A trust is a mechanism for holding property. A will may contain a trust or trusts, to become funded or operative upon the death of the person who wrote the will (called the testator). There are many varieties of trusts which are legally effective to govern management of property for living persons.

While you should get advice in the context of whatever situation you are considering, a very simplistic answer is that a will does not do anything until the person dies. A trust, if properly funded and administered, can operate while the person who created it is alive and the assets in the trust are taken out of that person's estate.