Don’t make the mistake of assuming that these documents are one and the same. While they might help you achieve the same overall goals, you might need both of them and you should not think of one as a substitute for the other. Consult with your Mississippi estate planning attorney for more information on the best strategy for you. 

The majority of trusts will only deal with specific assets, while your will can articulate all of your wishes for your property. A trust, for example, might explain what will happen with the proceeds from a life insurance policy payout or a specific piece of property, but your will covers all of the other assets within your estate.

You might choose to use a trust for specific assets, but a will can also address your personal belongings and anything else that falls under the broad umbrella of your estate. Working together, a will and a trust can be essential for your estate planning. At minimum, you should use a will to help you plan ahead. Discuss whether a trust would benefit you with your estate planning attorney today.