A Will is a document that, while revocable during a person’s lifetime, becomes effective upon their death and takes on legal significance when the document is “admitted to probate” by a Judge.  Trusts are relationship-based.  A trust consists of a: 1.) The Grantor who is the person who creates the trust; 2.) The Trustee is the person or financial institution who is in charge of managing the assets and making distributions to the beneficiaries; 3.) The Beneficiary who is the person or persons for whom the trust is designed to benefit.  Some trusts provide for immediate benefit to the beneficiaries, while others require the death of a specified person before benefits to the beneficiaries begin. Trusts can offer important lifetime benefits which are not available from a will.  These benefits include observing how a trustee will manage assets and the avoidance of a possible guardianship as assets held in trust are generally not subject to a Texas Guardianship.  Another major difference between a will and a trust is that trust assets are not subject to the probate process.  Trusts are not subject to the court process and the delays associated with probate.