Protection for benefit dependent beneficiaries
the below from STEP gives a very thorough explanation of why you should make a trust. Trusts have been used for centuries dating back to ancient Greece.
Trusts are used to pass assets to others whilst ensuring the trustees look after the Trust on behalf of the beneficiaries. This can be done in your Lifetime using an Asset Protection Trust or upon your death using a Will.
When it comes to protecting assets and controlling the distribution of your estate, will trusts and lifetime asset trusts are an essential estate planning tool and we at The WillMaker Group can provide a variety of different solutions depending upon you’re your own unique personal situation and what you want to make sure happens.
The following information is courtesy of STEP.