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Dollars & Sense: Trust vs. Will

Certified Financial Planner and Partner at Bridgewealth Advisory Group, Derek Elrod, visited Great Day to talk about the differences between a Revocable Trust and a Will, and the benefits of each.

Certified Financial Planner and Partner at Bridgewealth Advisory Group, Derek Elrod, visited Great Day to talk about the differences between a Revocable Trust and a Will, and the benefits of each.

A revocable trust, also known as a living trust or family trust, is a document that is fully amendable, revocable and you can change it any time you want.

Advantages of a living trust:

  • Avoids probate, the legal process of distribution of someone's estate
  • Maintain asset control
  • Trustee selection
  • Distribution instructions
  • Guardianship & Conservatorship
  • Privacy


A will, also known as a Last Will and Testament, is similar to a trust, but a will does go through probate, so it takes longer. A will also goes through the court, which means it's not private.


Advantages of a will:

  • Maintain asset control
  • Executor selection
  • Distribution instructions
  • Name guardians for children
  • Inexpensive



Bridgewealth Advisory Group, LLC is located at 986 W. Alluvial Avenue, Suite 101 in Fresno.

Click here to visit Bridgewealth Advisory Group online or call (559) 432-6100.

Derek Elrod is a partner at Bridgewealth Advisory Group, LLC and President of the Financial Planning Association of Central California. He received his undergraduate degree at Santa Clara University with a Bachelor of Science in Commerce with a focus on Finance, his Masters in Business and Administration from California State University Fresno, and will have completed a Masters in Financial Planning & Taxation from Golden Gate University in April 2018. Derek is a Certified Financial Planner and also possesses a Series 7 securities license, a Series 66 license, and has a California Life & Health Insurance license.

* Advisory Services offered through Bridgewealth Advisory Group, LLC, RB Capital Management, LLC and securities through APW Capital, Inc. Member FINRA/SIPC

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