A trust is a legal arrangement where a trustee holds assets on behalf of beneficiaries. By creating a trust, you can protect your assets from probate, minimize estate taxes, and ensure that your assets are distributed according to your wishes.

Some benefits of using a trust include avoiding probate, maintaining privacy, reducing estate taxes, protecting assets from creditors, and ensuring that your assets are distributed according to your wishes.

There are various types of trusts available for estate planning, including revocable trusts, irrevocable trusts, charitable trusts, special needs trusts, and more. Each type of trust has its own unique benefits and considerations, so it’s important to consult with a legal professional to determine which type of trust is right for your estate planning needs.

To set up a trust, you will need to work with an estate planning attorney to draft a trust agreement that outlines the terms and conditions of the trust. You will also need to transfer your assets into the trust, appoint a trustee to manage the trust, and designate beneficiaries to receive the trust assets. It’s important to regularly review and update your trust to ensure that it continues to meet your estate planning goals.