Trusts are very useful estate planning tools - they can be used as a vehicle to protect your assets from your creditors to ensure that they are preserved for your beneficiaries; they can have positive tax implications; and they allow for long term control over assets that is typically not afforded by a Will. That said, Trusts also bring about additional expense and maintenance duties, and certainly are not a good fit for everyone. There are also many different types of Trusts, and your specific situation will dictate the type of Trust that is advisable. Trusts are often used in tandem with a Will, and may be included in a Will or exist separately from a Will.
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