Quora Answer: Is a Will a Form of Trust?

The following is my answer to a Quora question: “Is a will a form of trust?”

A will is simply a legal document, by the writer of the will and owner of the estate, the testator, details how they wish their property and effects are disposed of upon their passing.  The will also names the executors of the estate, and is normally witnessed by two other persons.  The will also names the heirs, which may be natural persons, or otherwise.

A trust is a legal entity through which a fiduciary arrangement is made to allow a trustee to hold and manage the assets of the trust according to specific parameters as detailed in the trust document.

A will is not a trust.  A will may detail, however, that the estate be made into a testamentary trust, so that the proceeds of this trust may be distributed to beneficiaries according to the terms of the settlor.