A lot of people are unsure if Estate Planning and Trusts are necessary or needed. However, there are many benefits to establishing a Trust that can help you save time and money. Since trusts usually avoid probate, your beneficiaries may gain access to these assets more quickly than they might to assets that are transferred using a will. Additionally, if it is an irrevocable trust, it may not be considered part of the taxable estate, so fewer taxes may be due upon your death.
Trusts also give you better control how and when assets are transferred/distributed to beneficiaries, which can protect your estate from creditors or beneficiaries who may not be adept at money management.