Published: 2026-08-15
This article provides general information for reference purposes only and does not constitute professional legal, tax, medical, or financial advice. Rules and programs may change. Always verify current details with official sources or consult a qualified professional.
What is a trust?
A trust is a legal arrangement where a trustee holds and manages assets for beneficiaries. Trusts can help avoid probate, reduce taxes, and provide more control over how assets are distributed.
What types of trusts are available?
Common types include revocable living trusts, irrevocable trusts, and special needs trusts. Revocable trusts can be changed, while irrevocable trusts generally cannot. Each has different tax and control implications.
Do I need a trust?
Trusts are useful for larger estates, complex family situations, or if you want to avoid probate. They can also protect assets for minor children or beneficiaries with special needs. Consult an attorney to determine if a trust is right for you.