Generational Wealth · 10 min
Wills and Trusts, Plainly
What each document does — and when to bring in a professional.
A will directs what happens to assets after death and names a person to carry it out. Without one, state law decides.
A trust is a legal arrangement where assets are held for beneficiaries under terms you set. Trusts can govern timing and conditions, which is why families use them for continuity.
Requirements and tax consequences vary by state and by family. Nothing here replaces a licensed estate attorney or accountant.
Key takeaways
- No will means state law decides.
- Trusts let you set timing and conditions.
- Estate documents require licensed professional drafting.
Knowledge check
What happens if someone dies without a will?
DisclaimerMoor Capital provides financial education and informational tools. Content is not individualized investment, legal, tax, credit-repair, or financial advice. Investing involves risk, including possible loss of principal.