Will vs. Trust
The main difference between Will and Trust is that Will is a legal document that entitles your property to someone you wish at your death, whereas a Trust can distribute your possessions before, after, or at your death.
Key Differences
A will functions only after the death of the settler, whereas a trust functions either before or after the death of the settler, or right at the moment.
The court’s will is required to transfer the titles of assets in a will, whereas no court’s orders are required to entitle the assets in a trust.
A will is a less costly thing requiring a legal representative in the court for the assets distribution process after the death of the settler, while a trust is cost-effective for long term scheduling of legal events.
Samantha Walker
Jun 12, 2020
A will is a public thing that allows the court to know all your belongings and run probation. On the other hand, trust is a private thing and does not allow anyone to know what you have and run probation.
A will may leave property to young children, whereas a trust does not transfer the property until the child has turned 18.
Samantha Walker
Jun 12, 2020
A will is suitable for reasonably simple estates. Conversely, trust is the best for large complex estates.
Samantha Walker
Jun 12, 2020
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Comparison Chart
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A will is a legal document that transfers all your belongings at once to your desired person or persons after your death.
A trust is a relationship in which you authorize another party for your property’s distribution for the benefit of your beneficiaries.
Effect
After the owner’s death
Before, after, or at the death
Disabled Case
Does not effect until your death even if you are disabled
Takes care of all your assets if you are disabled
Public Accessibility
The public knows all your belongings
No one knows what you have except your trustee
Samantha Walker
Jun 12, 2020
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Probation
Probation is a must for your assets’ transfer
Probation is not compulsory for your assets’ transfer
Janet White
Jun 12, 2020
Cost
Less expensive
Most expensive in the short term and moderate expensive in the long term
Harlon Moss
Jun 12, 2020
Administration of Assets
Cannot administer assets without the court’s order
Can administer assets without court’s order
Harlon Moss
Jun 12, 2020
Will and Trust Definitions
Will
The mental faculty by which one deliberately chooses or decides upon a course of action
Championed freedom of will against a doctrine of predetermination.
Trust
Firm belief in the integrity, ability, or character of a person or thing; confidence or reliance
Trying to gain our clients' trust.
Taking it on trust that our friend is telling the truth.
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Will
Diligent purposefulness; determination
An athlete with the will to win.
Trust
The condition and resulting obligation of having confidence placed in one
Violated a public trust.
Will
Self-control; self-discipline
Lacked the will to overcome the addiction.
Trust
One in which confidence is placed.
Will
A desire, purpose, or determination, especially of one in authority
It is the sovereign's will that the prisoner be spared.
Trust
Custody; care
Left her papers in my trust during her illness.
Will
Deliberate intention or wish
Let it be known that I took this course of action against my will.
Trust
Something committed into the care of another; a charge
Violated a public trust.
Will
Free discretion; inclination or pleasure
Wandered about, guided only by will.
Trust
Reliance on something in the future; hope
We have trust that the future will be better.
Will
Bearing or attitude toward others; disposition
Full of good will.
Trust
Reliance on the intention and ability of a purchaser to pay in the future; credit
Bought the supplies on trust from a local dealer.
Will
A legal declaration of how a person wishes their personal possessions to be disposed of after death.
Trust
A legal relationship in which one party holds a title to property while another party has the entitlement to the beneficial use of that property.
Will
A legally executed document containing this declaration.
Trust
The confidence reposed in a trustee when giving the trustee legal title to property to administer for another, together with the trustee's obligation regarding that property and the beneficiary.
Will
To decide on or intend
He can finish the race if he wills it.
Trust
The property so held.
Will
To yearn for; desire
“She makes you will your own destruction” (George Bernard Shaw).
Trust
An institution or organization directed by trustees
A charitable trust.
Will
To decree, dictate, or order
Believed that the outcome was willed by the gods.
Trust
A combination of firms or corporations for the purpose of reducing competition and controlling prices throughout a business or industry.
Will
To induce or try to induce by sheer force of will
We willed the sun to come out.
Trust
To have or place confidence in; depend on
Only trusted his friends.
Did not trust the strength of the thin rope.
Could not be trusted to oversee so much money.
Will
To grant in a legal will; bequeath
Willed his fortune to charity.
Trust
To have confidence in allowing (someone) to use, know, or look after something
Can I trust you with a secret?.
Will
To order to direct in a legal will
She willed that her money be given to charity.
Trust
To expect with assurance; assume
I trust that you will be on time.
Will
To exercise the will.
Trust
To give credence to; believe
I trust what you say.
Will
To make a choice; choose
Do as you will.
Trust
To place in the care of another person or in a situation deemed safe; entrust
"the unfortunate souls who trusted their retirement savings to the stock" (Bill Barnhart).
Will
To wish; desire
Do what you will. Sit here if you will. See Usage Note at shall.
Trust
To extend credit to.
Will
(auxiliary) Used to express the future tense, sometimes with some implication of volition when used in the first person. Compare shall.
One of our salesmen will visit you tomorrow.
I will pass this exam.
Trust
To have or place reliance; depend
We can only trust in our guide's knowledge of the terrain.
Will
(auxiliary) To be able to, to have the capacity to.
Unfortunately, only one of these gloves will actually fit over my hand.
Trust
To be confident; hope.
Will
(auxiliary) Expressing a present tense with some conditional or subjective weakening: "will turn out to", "must by inference".
He will be home by now. He always gets home before 6 o'clock.
I can't find my umbrella. I will have forgotten it home this morning.
Trust
Confidence in or reliance on some person or quality.
He needs to regain her trust if he is ever going to win her back.
To lose trust in someone
Build up trust
A relationship built on mutual trust
Will
(auxiliary) To habitually do (a given action).
Boys will be boys.
Trust
Dependence upon something in the future; hope.
Will
(auxiliary) To choose or agree to (do something); used to express intention but without any temporal connotations (+ bare infinitive), often in questions and negation.
Will you marry me?
I’ve told him three times, but he won’t take his medicine.
Trust
Confidence in the future payment for goods or services supplied; credit.
I was out of cash, but the landlady let me have it on trust.
Will
To wish, desire (something).
Do what you will.
Trust
That which is committed or entrusted; something received in confidence; a charge.
Will
To wish or desire (that something happen); to intend (that).
Trust
That upon which confidence is reposed; ground of reliance; hope.
Will
(archaic) Implying will go.
Trust
(rare) Trustworthiness, reliability.
Will
To instruct (that something be done) in one's will.
Trust
The condition or obligation of one to whom anything is confided; responsible charge or office.
Will
(transitive) To bequeath (something) to someone in one's will (legal document).
He willed his stamp collection to the local museum.
Trust
(legal) The confidence vested in a person who has legal ownership of a property to manage for the benefit of another.
I put the house into my sister's trust.
Will
(transitive) To exert one's force of will (intention) in order to compel, or attempt to compel, something to happen or someone to do something.
All the fans were willing their team to win the game.
Trust
(legal) An arrangement whereby property or money is given to be held by a third party (a trustee), on the basis that it will be managed for the benefit of, or eventually transferred to, a stated beneficiary; for example, money to be given to a child when he or she reaches adulthood.
Will
One's independent faculty of choice; the ability to be able to exercise one's choice or intention.
Of course, man's will is often regulated by his reason.
Trust
A group of businessmen or traders organised for mutual benefit to produce and distribute specific commodities or services, and managed by a central body of trustees.
Will
The act of choosing to do something; a person’s conscious intent or volition.
Most creatures have a will to live.
Trust
(computing) Affirmation of the access rights of a user of a computer system.
Will
One's intention or decision; someone's orders or commands.
Eventually I submitted to my parents' will.
Trust
(transitive) To place confidence in, to rely on, to confide in.
We cannot trust anyone who deceives us.
Will
Firmity of purpose, fixity of intent
Trust
To have faith in; to rely on for continuing support or aid.
Will
(law) A formal declaration of one's intent concerning the disposal of one's property and holdings after death; the legal document stating such wishes.
Trust
(transitive) To give credence to; to believe; to credit.
Will
(archaic) That which is desired; one's wish.
Trust
(transitive) To hope confidently; to believe (usually with a phrase or infinitive clause as the object)
I trust you have cleaned your room?
Will
(archaic) Desire, longing. (Now generally merged with later senses.)
He felt a great will to make a pilgrimage to the Holy Land.
Trust
(transitive) to show confidence in a person by entrusting them with something.
Will
The power of choosing; the faculty or endowment of the soul by which it is capable of choosing; the faculty or power of the mind by which we decide to do or not to do; the power or faculty of preferring or selecting one of two or more objects.
It is necessary to form a distinct notion of what is meant by the word "volition" in order to understand the import of the word will, for this last word expresses the power of mind of which "volition" is the act.
Will is an ambiguous word, being sometimes put for the faculty of willing; sometimes for the act of that faculty, besides [having] other meanings. But "volition" always signifies the act of willing, and nothing else.
Appetite is the will's solicitor, and the will is appetite's controller; what we covet according to the one, by the other we often reject.
The will is plainly that by which the mind chooses anything.
Trust
(transitive) To commit, as to one's care; to entrust.
Will
The choice which is made; a determination or preference which results from the act or exercise of the power of choice; a volition.
The word "will," however, is not always used in this its proper acceptation, but is frequently substituted for "volition", as when I say that my hand mover in obedience to my will.
Trust
(transitive) To give credit to; to sell to upon credit, or in confidence of future payment.
Merchants and manufacturers trust their customers annually with goods.
Will
The choice or determination of one who has authority; a decree; a command; discretionary pleasure.
Thy will be done.
Our prayers should be according to the will of God.
Trust
To rely on (something), as though having trust (on it).
To trust to luck
Having lost the book, he had to trust to his memory for further details.
Will
Strong wish or inclination; desire; purpose.
My poverty, but not my will, consents; . . . Put this in any liquid thing you will,And drink it off.
Trust
To risk; to venture confidently.
Will
That which is strongly wished or desired.
What's your will, good friar?
The mariner hath his will.
Trust
(intransitive) To have trust; to be credulous; to be won to confidence; to confide.
Will
Arbitrary disposal; power to control, dispose, or determine.
Deliver me not over unto the will of mine enemies.
Trust
To sell or deliver anything in reliance upon a promise of payment; to give credit.
Will
The legal declaration of a person's mind as to the manner in which he would have his property or estate disposed of after his death; the written instrument, legally executed, by which a man makes disposition of his estate, to take effect after his death; testament; devise. See the Note under Testament, 1.
Trust
(obsolete) Secure, safe.
Will
To wish; to desire; to incline to have.
A wife as of herself no thing ne sholde [should]Wille in effect, but as her husband wolde [would].
Caleb said unto her, What will thou ?
They would none of my counsel.
Trust
(obsolete) Faithful, dependable.
Will
As an auxiliary, will is used to denote futurity dependent on the verb. Thus, in first person, "I will" denotes willingness, consent, promise; and when "will" is emphasized, it denotes determination or fixed purpose; as, I will go if you wish; I will go at all hazards. In the second and third persons, the idea of distinct volition, wish, or purpose is evanescent, and simple certainty is appropriately expressed; as, "You will go," or "He will go," describes a future event as a fact only. To emphasize will denotes (according to the tone or context) certain futurity or fixed determination.
I am able to devote as much time and attention to other subjects as I will [shall] be under the necessity of doing next winter.
A countryman, telling us what he had seen, remarked that if the conflagration went on, as it was doing, we would [should] have, as our next season's employment, the Old Town of Edinburgh to rebuild.
I feel assured that I will [shall] not have the misfortune to find conflicting views held by one so enlightened as your excellency.
Trust
(legal) of or relating to a trust.
Will
To be willing; to be inclined or disposed; to be pleased; to wish; to desire.
And behold, there came a leper and worshiped him, saying, Lord if thou wilt, thou canst make me clean. And Jesus . . . touched him, saying, I will; be thou clean.
Trust
Assured resting of the mind on the integrity, veracity, justice, friendship, or other sound principle, of another person; confidence; reliance; reliance.
Most take things upon trust.
Will
To form a distinct volition of; to determine by an act of choice; to ordain; to decree.
By all law and reason, that which the Parliament will not, is no more established in this kingdom.
Two things he [God] willeth, that we should be good, and that we should be happy.
Trust
Credit given; especially, delivery of property or merchandise in reliance upon future payment; exchange without immediate receipt of an equivalent; as, to sell or buy goods on trust.
Will
To enjoin or command, as that which is determined by an act of volition; to direct; to order.
They willed me say so, madam.
Send for music,And will the cooks to use their best of cunningTo please the palate.
As you go, will the lord mayor . . . To attend our further pleasure presently.
Trust
Assured anticipation; dependence upon something future or contingent, as if present or actual; hope; belief.
His trust was with the Eternal to be deemedEqual in strength.
Will
To give or direct the disposal of by testament; to bequeath; to devise; as, to will one's estate to a child; also, to order or direct by testament; as, he willed that his nephew should have his watch.
Trust
That which is committed or intrusted to one; something received in confidence; charge; deposit.
Will
To exercise an act of volition; to choose; to decide; to determine; to decree.
At Winchester he lies, so himself willed.
He that shall turn his thoughts inward upon what passes in his own mind when he wills.
I contend for liberty as it signifies a power in man to do as he wills or pleases.
Trust
The condition or obligation of one to whom anything is confided; responsible charge or office.
[I] serve him truly that will put me in trust.
Reward them well, if they observe their trust.
Will
The capability of conscious choice and decision and intention;
The exercise of their volition we construe as revolt
Trust
That upon which confidence is reposed; ground of reliance; hope.
O Lord God, thou art my trust from my youth.
Will
A fixed and persistent intent or purpose;
Where there's a will there's a way
Trust
An estate devised or granted in confidence that the devisee or grantee shall convey it, or dispose of the profits, at the will, or for the benefit, of another; an estate held for the use of another; a confidence respecting property reposed in one person, who is termed the trustee, for the benefit of another, who is called the cestui que trust.
Will
A legal document declaring a person's wishes regarding the disposal of their property when they die
Trust
An equitable right or interest in property distinct from the legal ownership thereof; a use (as it existed before the Statute of Uses); also, a property interest held by one person for the benefit of another. Trusts are active, or special, express, implied, constructive, etc. In a passive trust the trustee simply has title to the trust property, while its control and management are in the beneficiary.
Will
Decree or ordain;
God wills our existence
Trust
A business organization or combination consisting of a number of firms or corporations operating, and often united, under an agreement creating a trust (in sense 1), esp. one formed mainly for the purpose of regulating the supply and price of commodities, etc.; often, opprobriously, a combination formed for the purpose of controlling or monopolizing a trade, industry, or business, by doing acts in restraint or trade; as, a sugar trust. A trust may take the form of a corporation or of a body of persons or corporations acting together by mutual arrangement, as under a contract or a so-called gentlemen's agreement. When it consists of corporations it may be effected by putting a majority of their stock either in the hands of a board of trustees (whence the name trust for the combination) or by transferring a majority to a holding company. The advantages of a trust are partly due to the economies made possible in carrying on a large business, as well as the doing away with competition. In the United States severe statutes against trusts have been passed by the Federal government and in many States, with elaborate statutory definitions.
Will
Have in mind;
I will take the exam tomorrow
Trust
Held in trust; as, trust property; trustmoney.
Will
Determine by choice;
This action was willed and intended
Trust
To place confidence in; to rely on, to confide, or repose faith, in; as, we can not trust those who have deceived us.
I will never trust his word after.
He that trusts every one without reserve will at last be deceived.
Will
Leave or give by will after one's death;
My aunt bequeathed me all her jewelry
My grandfather left me his entire estate
Trust
To give credence to; to believe; to credit.
Trust me, you look well.
Trust
To hope confidently; to believe; - usually with a phrase or infinitive clause as the object.
I trust to come unto you, and speak face to face.
We trustwe have a good conscience.
Trust
To show confidence in a person by intrusting (him) with something.
Whom, with your power and fortune, sir, you trust,Now to suspect is vain.
Trust
To commit, as to one's care; to intrust.
Merchants were not willing to trust precious cargoes to any custody but that of a man-of-war.
Trust
To give credit to; to sell to upon credit, or in confidence of future payment; as, merchants and manufacturers trust their customers annually with goods.
Trust
To risk; to venture confidently.
[Beguiled] by theeto trust thee from my side.
Trust
To have trust; to be credulous; to be won to confidence; to confide.
More to know could not be more to trust.
Trust
To be confident, as of something future; to hope.
I will trust and not be afraid.
Trust
To sell or deliver anything in reliance upon a promise of payment; to give credit.
It is happier sometimes to be cheated than not to trust.
Her widening streets on new foundations trust.
They trusted unto the liers in wait.
Trust
Something (as property) held by one party (the trustee) for the benefit of another (the beneficiary);
He is the beneficiary of a generous trust set up by his father
Trust
Certainty based on past experience;
He wrote the paper with considerable reliance on the work of other scientists
He put more trust in his own two legs than in the gun
Trust
The trait of trusting; of believing in the honesty and reliability of others;
The experience destroyed his trust and personal dignity
Trust
A consortium of independent organizations formed to limit competition by controlling the production and distribution of a product or service;
They set up the trust in the hope of gaining a monopoly
Trust
Complete confidence in a person or plan etc;
He cherished the faith of a good woman
The doctor-patient relationship is based on trust
Trust
A trustful relationship;
He took me into his confidence
He betrayed their trust
Trust
Have confidence or faith in;
We can trust in God
Rely on your friends
Bank on your good education
I swear by my grandmother's recipes
Trust
Allow without fear
Trust
Be confident about something;
I believe that he will come back from the war
Trust
Expect and wish;
I trust you will behave better from now on
I hope she understands that she cannot expect a raise
Trust
Confer a trust upon;
The messenger was entrusted with the general's secret
I commit my soul to God
Trust
Extend credit to
Will vs. Trust
A will is defined as a piece of paper that entrusts your property to your wished person after your death with the help of a legal representative. Conversely, trust is defined as giving one’s rights of a part or all property to the trustee, which takes control of legal ownership of a property if the real owner is absent, disabled, or dead.
A will starts its action only after the death of the owner, whereas the trust takes effects right at the moment. A will is not valid until you are deceased, but a trust can make sure to provide full care for your property and your minor children in case you are disabled.
The will does not allow your beneficiaries to manage their assets when they are incapacitated, while trust can manage their assets efficiently. A will entrusts all your property to your children in a lump sum, whereas the trust controls the distribution of your estate.
A will is considered a public document that you have to fill in the court, and everyone knows what you have publicly. On the other hand, a trust is a private document for which you don’t have to visit the court necessarily, and no one knows about your possessions.
It is compulsory for a will to go through probation for the entitlement of your assets or possessions to your beneficiaries. Contrarily, a trust is not probated for the transfer of your belongings to your beneficiaries.
What is Will?
A legally dominated document that manages your matters handled and assets distributed according to your desire after your death is called a will. A will is a public document for which one must visit the court and make one’s assets public, making everyone know about what one has. A will cannot administer assets to the minor beneficiaries without the court’s involvement.
If a person has filled his will in the court and appointed a guardian for his adolescent children, the guardian will be held responsible as the owner of that person’s assets. In case if a person has not appointed guardian for his minor children, his family will suffer in probate court, and a guardian will be appointed whom one does not want to entrust one’s children.
A will is processed through probation, which means that all your possessions and properties are scanned before transferring the titles of your assets to your beneficiaries. Making a will is not a costly process as compared to trust, which requires long estate planning.
A will does not protect an inheritance from the beneficiaries’ creditors and thus does not give you guarantee that all the assets for which you worked damn hard will be given to your children. If a person has a child, grandchild, or any beneficiary who is disabled, he is recommended to trust his property because a will does not secure the disabled person’s assets as they will be either lost or transferred to any other beneficiary.
What is Trust?
A trust is defined as managing your belongings during your lifetime and distributing them efficiently into your beneficiaries after your death. A person can manage the trust himself or can assign any other person, group, or company known as the trustee, for managing his assets.
A trust is a highly private manuscript that does not allow the public to intervene, or know about your possessions. After trusting the assets, the person’s belongings are not probated, and no permission is required to hand over your assets’ entitlement.
The inheritance left to beneficiaries is safeguarded from creditors by a trust. The trust makes sure to handover your original assets to your adult children or future generations. The trust protects the disabled beneficiary’s rights and reduces estate taxes.
A trust is not required to achieve a court’s intervention for the administration of assets to minor beneficiaries. Trust is the ideal way to ensure all the government benefits and payments for non-governmental reimbursements.
Types of Trust
- Testamentary Trust: A legal body that resides along with your will and effects when you are deceased is called Testamentary trust.
- Living Trust: A legal entity established and accomplished during your lifetime is called Living trust.
Advantages of Trust
- No probation is required.
- It reduces future estate taxes.
- It ensures the security of the inheritance of disabled beneficiaries.
- It maintains the privacy of your possessions.
- It administers your assets without the interference of the court.
- It is a cost-effective asset scheduling.
