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The Benefit of Having a Trust

 

By Jay Taylor, Attorney at Law

 

While a will governs what happens after death, a trust governs both life and death. A revocable living trust allows you to control your assets while you are alive, plan for incapacity, and provide for seamless distribution after you pass.

 

The main advantages of a trust include:

• Avoiding probate: Trust assets transfer directly to beneficiaries without court involvement.
• Privacy: Unlike wills, trusts are not public records.
• Continuity: A successor trustee can manage assets immediately if you become incapacitated.
• Flexibility: You can change, revoke, or update your trust at any time while competent.
• Control: You can set conditions for distributions, such as age limits or milestones.

 

Trusts are particularly valuable for families with real estate, blended households, or beneficiaries who may need guidance in handling money. They can also protect assets from creditors and preserve eligibility for certain benefits.

Establishing a trust with the help of an attorney ensures your plan is legally sound, tax-efficient, and aligned with your long-term goals. A well-crafted trust turns complexity into confidence.