Estate planning involves understanding the differences between wills and trusts, which both distribute assets after death but do so in distinct ways. A will can be a simple document naming an executor and beneficiaries, but it must go through probate, while a trust allows assets to pass without probate and can dictate management while the owner is still alive. Financial advisors, such as Certified Kingdom Advisors, can help individuals plan for their next season of life, considering factors like caring for aging parents, housing market trends, and long-term care.
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