Wills and trusts are often confused and there are many differences that people need to be aware of. If you want to create a trust, or a will for people, then you can always use both. If you want to use only one, then there are certain benefits that each one offers. Wills are a lot less expensive than trusts. Trusts require that you put assets into them at first, so it can be pretty tough.

Read more: Wills and trusts: The differences you need to know