Legal Question in Wills and Trusts in Texas
difference between trust and will
I am a widow with 2 grown children. What is the difference between a trust and a will? Is one better than the other? I do not have a large estate.
Asked on 8/25/06, 2:46 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: difference between trust and will
A trust is an entity into which you deed your house and place other assets to avoid probate. Since you do not have a complicated estate and probate is relatively inexpensive in Texas, I would do a simple will to avoid the administration costs of a trust such as accounting and separate tax returns.
Answered on 8/25/06, 3:00 pm
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