TAKE A BREAK
TRUST VS. WILL What’s the Difference!?
When it comes to your estate plan, there are many different options available, but choosing which is best for your situation can feel overwhelming, even with the help of a trusted advisor. Two of the most common terms used in estate planning are “will” and “trust.” While both of these documents can help your loved ones after you pass, there are critical differences between these two tools. Here are the key differences between a will and a trust to help you make the most informed decision to fit your needs. Wills only take effect once you pass away. The purpose of a will is to name guardians for your children, allocate your assets, and outline any final arrangements for your living family to follow. This means that the contents and instructions of your will only take effect once you pass. However, a trust becomes effective once signed, even if you’re alive. A living trust becomes incredibly helpful if you are ever disabled due to an illness or accident, so some of your wishes can be fulfilled even if you’re still alive. You can also define how you’d like to be cared for in your trust if you need long-term care. A trust must be funded. While a will is considered a “simple” document because it’s straightforward to set up, a trust can be a bit more complicated because assets must be transferred to it. Essentially, the trust must become the owner of your assets to allocate them to others later legally — so you’ll need to physically change the ownership of your things. Also, whatever assets you’d like to disperse to your beneficiaries must be owned by the trust because it can only allocate what it owns. On the other hand, a will covers anything you own, including minor items. Wills don’t avoid probate. One of the most significant differences between a will and a trust is that a will usually goes to court. Probate is the legal process your estate goes through to disperse the belongings you have listed in your will. This process can sometimes take a very long time and can be costly for your family. Conversely, a trust can allow you to pass on your items while avoiding probate because your trustee has immediate authority over the trust as soon as you pass.
ONE-PAN CHICKEN AND MUSHROOMS WITH EGG NOODLES
Inspired by MarthaStewart.com
Ingredients
• 3 slices bacon, cut into 1/2- inch pieces • 4 bone-in, skin-on chicken breasts, halved • Salt and ground pepper • 3 tbsp butter, divided • 8 oz button mushrooms, trimmed
• 8 oz shallots, peeled and halved
• 3 cups chicken broth • 1/2 cup heavy cream • 8 oz egg noodles • 1/3 cup chopped fresh dill
Directions 1. In a large pan over medium heat, cook bacon until browned, 7–9 minutes. Remove from heat, discard fat, and set aside. Season chicken with salt and pepper. Return pan to medium-high heat and melt 2 tbsp butter. Add chicken, skin-side down. Cook, turning a few times, for 10–12 minutes until browned. Transfer to a plate. 2. Place remaining 1 tbsp butter in pan to melt. Add mushrooms and shallots; cook 8–10 minutes. Add broth and cream; bring to a boil. Stir in noodles. 3. Add chicken (skin-side up), cover pan, reduce heat, and simmer, stirring once halfway through. Cook about 10–12 minutes. 4. Uncover and simmer until thickened. Stir in dill and top with bacon. Serve and enjoy!
CherylDavid.com | 3
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