Ohio Will v. Trust
There is a perception that only people with extreme wealth can benefit from a Trust. In fact, a Trust is a valuable planning tool for the majority of families. Having a Trust reduces the costs of administration, reduces the time for administration, and provides additional protections for assets.
Similar to a Will, a Trust controls the final distribution of your assets, but with little or no involvement from the Probate Court. A Trust is used in conjunction with a Will; a Will is still necessary to appoint Guardians and transfer assets not owned by a Trust at the time of death.
The following is a visual summary on how a Trust can benefit parents in Ohio: