Probate is a legal process that determines if someone’s will is valid

It’s not always clear whether a will or a trust is the best for an individual estate

While trusts are typically more expensive to set up than a will, they also help beneficiaries avoid specific types of taxes, depending on the type of trust. Wills typically go through probate, whereas trusts do not. An article offers a list of questions to consider when deciding between the two.

Revocable trusts are typically subject to estate taxes

Irrevocable trusts, however, are not. Both types help beneficiaries avoid probate, the lengthy court process that administers a person’s estate upon death.

Estate taxes are paid out of the estate, while inheritance taxes are paid by beneficiaries

When a person dies, any estate taxes owed are paid out of their finances before being transferred to their beneficiaries—unlike inheritance taxes that are paid by the beneficiaries themselves. In addition to a federal estate tax, 12 states and the District of Columbia have a state estate tax with varying rates.

Trusts are estate planning tools

They’re used as a way to designate assets to beneficiaries while skirting certain taxes and maintaining one’s privacy. They can hold a wide range of assets, including cash, real estate, stocks, businesses, and more.

In a trust, the trustee is often the same person as the beneficiary

While a trustee is supposed to be a neutral third party whom the grantor appoints to manage their trust, they can be (and often are) the same person as the beneficiary. While that seems counterintuitive, trustees have a legal obligation to manage assets impartially and in the trust’s best interest.

When a pension holder dies, payments are sometimes passed on to a relative

Those relatives are often the pension holder’s surviving spouses or dependents. This article offers tips from a financial expert on how to make sure your spouse is taken care of during retirement, including navigating a pension’s ultimate destination.

Estate planning involves organizing your financial documents—and making sure your family knows where to find them

This article offers tips for keeping yourself organized, such as the list of documents your family may need and suggestions for where to keep the files, both digital and physical.

You can draft a will designed to block AI resurrection—but the request may be ignored

Ars Technica spoke with legal experts about how—and if—people could design their wills to prevent AI resurrection. Though this is not yet a common request, one lawyer suggested that people worried about living on in an AI format can draft a power of attorney and a will that prevents those in charge of one's estate from submitting any texts, voice, image, writings, or other personal information to any AI tools.

Brush up on your bankruptcy vocab

The technical term for what happens when a court removes a debtor’s obligation to repay money owed is “discharge.” An “automatic stay” is what goes into place once a filing occurs to prevent a debtor from facing lawsuits, evictions, and other negative consequences until the process wraps up.

Proof-of-work versus proof-of-stake: what's the difference?

The two main consensus mechanisms—the way blockchains confirm and enshrine information—are proof-of-stake and proof-of-work. An overview compares the differences between the two and the latter's ability to reduce the energy intensity of the computation process, which has emerged as one of the biggest criticisms of the crypto boom.

A deed is a legal document that shows change of homeownership during a sale

A deed differs from a title, which is the actual right of ownership to a property, and a concept rather than a physical document. These days, many deeds are online rather than physical pieces of paper kept in a home.

Final life insurance is most common for people over the age of 50

Final expense life insurance is a type of life insurance where, instead of paying a sum of money to your beneficiaries after death, the insurance covers the expenses for your funeral, burial, and any end-of-life care.

Escrow is when a third party holds on to the money during a financial negotiation between two other parties

In the homebuying process, escrow typically happens while the buyer and the seller negotiate the terms of the sale. Escrow accounts can also be used to hold a buyer’s money when making payments on their loan.

What are college endowments? An expert explains

College endowments are meant to last forever. That's why some of the oldest, most prestigious schools in the US have lasted so long. A higher education finance expert weighs in on how these funds work and offers fascinating tidbits on how they impact university finances.

Each state has its own regulations regarding marriage

Some states don’t even require a ceremony or license, opting to allow “common law” marriages. Prenuptial agreements and other legal matters will likely require an attorney’s help. And marriages can offer benefits, like tax breaks.

Ghost weddings used to be more common

Ghost weddings are marriages between two deceased parties, or one living and one dead partner. They satisfy departed family members’ needs for companionship and peace in the afterlife, according to Chinese spiritual beliefs. Unfortunately, since ghost marriages are pricey and can include the mingling of mortal remains, murderers and grave robbers have, at times, sought to supply spouses through nefarious means.

How to calculate your net worth

Someone's net worth is the value of their assets minus their liabilities. Assets may include a home or a retirement savings account, whereas examples of liabilities include student or credit card debt.

Asset location is the type of account an asset is placed in

Investors are likely familiar with “asset allocation,” creating an ideal mix of different asset types in an individual's portfolio. But asset location matters just as much for investors who are conscious of how much they owe in capital gains taxes.

Brain death is a medical diagnosis without any wiggle room

Seeking to resolve long-standing variations between hospitals and state procedures, in 2023 several expert groups published comprehensive step-by-step guidance for clinicians to follow when determining brain death in kids and adults. Among other guidelines, it stated that doctors don't need to get family consent to do the tests needed to make this determination.

What happens when a cemetery goes out of business?

When a cemetery goes out of business, what happens to all the bodies? And how do cemetery business models work in the first place? This podcast episode answers those questions and others as host PJ Vogt interviews a cemetery expert who grew up in a cemetery before he began studying them as an adult.

You can read First Lady Jacqueline Kennedy Onassis' will online

Unlike trusts, the contents of a will are public information. Former first lady Jacqueline Kennedy's will included her copy of John F. Kennedy's Inaugural Address signed by Robert Frost and other fascinating historic objects.

Grand juries investigate crimes and decide whether the government has enough evidence to charge someone

Unlike trial juries, which determine guilt, grand juries decide whether there is probable cause to bring charges at all. If they find enough evidence, they issue a formal indictment. Federal grand juries are enshrined in the Fifth Amendment of the US Constitution.

What's your tax filing status? Find out with this video

There are five different filing statuses taxpayers fall under when they file income taxes: single, married and filing jointly, married and filing separately, head of household, and surviving spouse. Taxpayers' status is determined by whichever category they fit into on December 31st of the tax year they're filing for.

A murdered pastor had a penchant for life insurance fraud

In 1977, Robert Burns went to a funeral and shot the pastor, the Rev. Willie Maxwell, in the head in front of 300 people. Burns did this due to accusations Maxwell had murdered several people—including his wife—to collect their life insurance. Listen to the incredible story of a high-profile murder and life insurance fraud case with this podcast.

Living donations most commonly involve a kidney or part of a liver

In 2023, more than 6,900 transplants were made possible thanks to living donors. Living donation is when a living person donates an organ or part of an organ—usually one of their two kidneys or part of the liver, since that organ can regenerate in a healthy person. Much more rarely, living donors donate other organs. Living donations often occur when someone wants to ensure a loved one has certainty that they will quickly receive a needed organ.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Pure water does not conduct electricity because this flow of energy requires the movement of charged particles, and water is a neutral molecule.

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

Against his wishes, Albert Einstein's brain was removed before his cremation, and the pathologist responsible stored it for decades in mason jars within a beer cooler.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

When you complete a CAPTCHA on a website to prove you are human, you may be unknowingly training algorithms for self-driving cars, whose systems require training data to help identify crosswalks, bicycles, and other outdoor objects.

The Brothers Grimm were lawyers before they were storytellers, and became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

The use of fungi to detoxify land and water—a process known as mycoremediation—has been used to clean up natural resources affected by the 2025 California wildfires.

Indefinite cloning of some endangered species may not sustain their longevity because cloning success rates decrease as genetic mutations accumulate.

Watch what the Ebola virus does inside our cells and organs in order to spread and survive.

Apeirophobia is an overwhelming fear of living forever, perhaps stemming from the brain's inability to conceptualize an infinite life.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Corals are themselves not coral reefs—the term refers to the tiny marine invertebrates that build the rigid reef.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Neutron stars, the remains of some massive stars after they explode in a supernova, are the densest directly observable objects in the universe.

A pickleball's loud 'pop' sound can reach 120 decibels, which is equivalent to a hammer hitting a nail

Explore a list of the 100 best novels of all time, compiled by some of the world's best living writers, including Salman Rushdie, Stephen King, and Jennifer Egan.

Explore the archaeological treasures of Pompeii, the city buried under volcanic ash when Mount Vesuvius erupted in 79 CE.