The provided texts compare and contrast wills and trusts as estate planning tools in Australia. They detail the advantages and disadvantages of each, explaining how they function, when they take effect, and the legal processes involved. The sources emphasize the importance of seeking professional legal advice to determine which option, or combination of options, best suits individual circumstances and goals, considering factors like asset complexity, tax implications, and beneficiary needs. Specific examples illustrate the practical applications of both wills and trusts in estate planning. The sources ultimately advise that both a will and a trust can be beneficial tools depending on individual needs.