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If you become mentally or physically incapacitated, who do you want to manage your assets until you are able to do so yourself? Provisions in a will do not take effect unless you die. A trust, on the other hand, can take effect at any time. It can designate when and under what conditions a trustee can step in to arrange for your care, access your assets to provide that care, and manage your finances through your incapacity. The provisions can save you and your family thousands of dollars as well as avoid court proceedings and a court-appointed guardian.

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If you or your spouse dies, when it comes to providing for surviving children, sometimes a will is not enough to protect their inheritances. This is where a trust comes in. Trusts are not just for the wealthy. A trust is a legal entity that can own property and assets. Through the instructions you write into the trust, it can buy, sell, negotiate, manage, and disburse its assets for the benefit of your children. It gives you a lot of control after you pass away.

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