A will is a legal document that allows people to  express their wishes posthumously  for how their property should be managed and distributed after their death.

A trust fund is a  legal arrangements that allow individuals to place assets in a special account to benefit another person or entity . Trust funds often require the assistance of a professional to set up, though there are online tools for the do-it-yourselfer.

Both entities can designate the CFO as a beneficiary of all or part of the assets and may help to reduce federal estate taxes. They can also be changed at anytime.

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