Mark Kohler explains why trusts beat wills: a will just names who gets your money, but a trust lets you control how heirs use it. You can set conditions, timing, and incentives from beyond the grave instead of handing over cash with no strings attached.
Now, I wanted to title this why, you know, 10 reasons why every American should have a freaking trust. Number one reason is it puts you in control. And that may seem very weird. You're like, well, I can just do a will. A will is clunky. A will is simple. They don't really carry on. They kind of say who gets what. But a will doesn't say, but hold this money for this many years and then do this with this and do that with that. A will is like a two to four page document at best in 99% of the time where a trust gives you so much more control. This is for you narcissists out there, you control freaks. You can control your family from the grave. You can continue to jack up your kids lives. They thought they got rid of you, but no, you're going to control their money for the rest of their lives. Well, maybe not the rest, but this is a great way to use a carrot or a stick, and we're going to talk about that in helping your family with money, not just throwing money in their laps.
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