text: Many people in the United States, including in New York, are at the age where they need estate plans but have not taken the time to create them. Without an estate plan, a person's assets may not end up in the intended hands following one's death. Both trusts and wills can be invaluable estate planning tools.
  Although wills account only for the division of assets when a person dies, trusts continue on for an established period and usually govern how assets will be distributed. Trusts allow people to set restrictions on when assets are to be distributed in addition to identifying conditions for their heirs to get bequests. For instance, bequests might remain under a preappointed trustee's supervision until a child becomes 18.
  With a will, a person in New York can easily document his or her wishes in detail in the event of his or her death. Appropriate legal guidance can help people to develop well-thought-out wills as well as update them regularly. An applied understanding of the law may also help people to create trusts that will ultimately meet their loved ones' needs and be in line with their personal wishes.