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What is the difference between a will and a trust?

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A will is a legal document that spells out how you want your affairs handled and assets distributed after you die. A trust is a fiduciary arrangement whereby a grantor, also called a trustor, gives a trustee the right to hold and manage assets for the benefit of a specific person or purpose.

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according to investopia.com,A will is a legal document that spells out how you want your affairs handled & assets distributed after you die. A trust is a fiduciary arrangement whereby a grantor/trustor,gives a trustee the right to hold & manage assets for the benefit of a specific purpose or person.

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