A Living Trust is a type of estate planning vehicle that helps your family, when properly funded, stay out of the probate courts and out of guardianship court.
It’s important to note that a living trust is just one of several estate planning tools that can be used to achieve your goals. An attorney or financial professional can help you determine if a living trust is the right choice for you.
A trust allows you to protect those assets against the creditors of your beneficiaries. There is asset protection that could be done for your beneficiaries in those trusts.
Trusts are a wonderful way to not only avoid probate and avoid guardianship, but to keep all of these transactions in your life and what you work so hard to create private and out of the eyes of those who would otherwise see it in probate court or guardianship court.