Everyone has heard the terms "will" and "trust," but not everyone knows the differences between the two. Both are useful estate planning devices that serve different purposes, and both can work together to create a complete estate plan. One main difference between a will and a trust is that a will goes into effect only after you die, while a trust takes effect as soon as you create it. A will is a document that directs who will receive your property at your death and it appoints a legal representative to carry out your wishes.
Electronic documents and signatures have been accepted for some time in nationwide and international commerce and in the Federal Court system and have been steadily gaining acceptance in the insurance and health care industries. Acceptance in the mortgage industry has been slightly slower, meaning that eNotes were not really hitting the New York foreclosure landscape—until now.