When you are trying to decide on the ideal way to pass on your assets to the next generation, understanding the difference between wills and trusts is vital. While both have their advantages, every person should be aware of the advantages and disadvantages for their unique situation in order to make an informed decision as to which is better.   Wills   A will is a legal document that details who gets which of your assets after you die. Your will allows all assets to be processed through probate court and then released as appropriate to your heirs and beneficiaries. Your will allows you to do several vital things, including:   Name an executor to manage the distribution of your [...]