People sometimes choose to execute a Last Will and Testament as their initial estate plan. As assets grow, however, the option to switch to a trust as the primary distribution method is often the wise move. Whether you want to use a Will or a trust to distribute your estate is something that can truly only be decided after consulting with an experienced and qualified estate planning attorney; however, there are some common considerations when deciding whether a Will or a trust should be used. If your estate is small enough to qualify for small estate administration, and you do not have minor children (nor plan to have any in the near future), a simple Will may be sufficient. If, however, your estate is large enough that probate avoidance is a consideration and/or you do have minor children who will inherit from your estate, you should strongly consider establishing a trust.
