While the main focus of your wealth-building journey may naturally be building up your wealth, it’s equally important to determine what to do with it once you have it. Whether you’re planning to give it away upon your death or would like to give some away while you’re still alive, planning for either situation can help you ensure your hard-earned wealth is distributed how you’d like, to whom you’d like and when.
A common solution for wealth distribution is a will. A will offers you the opportunity to describe how you would like your assets distributed upon your passing; however, another popular solution is a trust, which allows you to direct the distribution of your wealth while you're still alive. While both are great solutions depending on your goals, a trust can have other benefits you may want to consider.
