So what does this mean?
It means that a trust is an extremely flexible estate planning tool. There are many different kinds of trusts which can be used to accomplish an amazing array of goals from tax planning, to disability planning, to legacy building, to asset protection.
Many of our clients, if they are interested in a trust when they first approach us, are thinking of a revocable living trust. A revocable living trust set up by a qualified trust attorney is a very flexible estate planning strategy which can provide uninterrupted asset management and protection during any incapacity and serves, in many ways, as a substitute for a will. This type of trust allows you to accomplish your goals with little or no court intervention and to do so in a private manner without sharing the details of your estate in public through conservatorship or through probate.