Mercer Advisors
Sharing Knowledge

Question

What is the difference between a trust and a will?

Answer

A will takes effect only after death and typically goes through probate. A trust can be effective during your lifetime, manage assets if you become incapacitated, and distribute assets privately outside of probate. Both documents serve different purposes and are often used together in a comprehensive estate plan.

Related FAQs

What is a SLAT (spousal lifetime access trust)?

What is a GRAT (grantor retained annuity trust)?

What is a dynasty trust?
Estate Planning Trustee Services Asset Protection Protecting Your Legacy Generational Wealth Inherited Wealth Year-Round Tax Planning FAQs
Last Updated May 18, 2026
Previous Next

Further Learning

Listen
Investment Management Podcast

Episode 39 – Financial Planning Is a Prerequisite to Successful Investing

Don Calcagni, Chief Investment Officer, breaks down why financial planning should be the essential first step to building, sustaining, and transferring wealth.

Listen
Investment Management Podcast

Episode 525 – Investment Philosophy vs. Strategy

Discover how your core beliefs shape investment decisions. John Walker and Jason O’Meara break down philosophy vs. strategy for long-term success.

Women & Wealth Guide

Retirement Planning for Single Women: A Complete Guide

A practical guide to retirement planning for single women — covering Social Security, long-term care, estate planning, and an age-specific checklist.

Women & Wealth Article

Beyond Business Growth: Wealth Planning for Women Founders

Many women founders face a three-way financial pull. Learn how to help protect personal wealth, optimize taxes, and plan your business exit — all at once.

Back to Sharing Knowledge

About Mercer Advisors

We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.

Explore Our Solutions

Financial Planning
Estate Planning
Tax Planning & Preparation
Insurance Solutions
Investment Management
Trustee Services

Want to learn more about Mercer Advisors?

Let’s Talk