Overview

There are many different kinds of trusts that serve a multitude of purposes. Trusts are not just for wealthy people; they may be helpful to just about everyone. The simplest form of a trust is a living revocable trust which is a trust that allows you to be your own trustee as well as beneficiary during your lifetime. Such a trust will keep your assets contained within the trust from having to go through probate thus (oops, legalese) lowering your expenses, speeding the estate settlement and increasing your privacy. Other kinds of trusts serve various other purposes from tax avoidance to caring for people with special needs.