Knowledge Check $8\mathrm{.}3$

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What is the difference between a will and a trust?

A will is a private document, and a trust is a public document.

A will goes into probate, and a trust doesn't.

A will can be irrevocable; however, a trust can only be revocable.

A will can take effect while a person is living, but the trust is most relevant when a person passes.

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