A will is a legal document that outlines how a person's assets and property should be distributed after their death. It allows individuals to specify beneficiaries, appoint guardians for minor children, and name an executor to manage the estate. Wills must go through a legal process called probate, which can take time and may incur costs. A trust is a legal arrangement where one party, the trustee, holds and manages assets for the benefit of another party, the beneficiary. Trusts can help avoid probate, provide privacy, and offer more control over how and when assets are distributed. They can be established during a person's lifetime or created through a will.