Not every estate plan needs a trust. However, a trust can be an extremely beneficial estate planning tool and is often recommended, especially when real estate is part of the estate, when there are multiple heirs, and when minors or special needs dependents are involved.

A trust is similar to a Last Will and Testament in that it specifies how your property will be distributed, but it offers more flexibility and can be used to address more complex estate planning situations. A trust can also be used to manage and transfer assets and minimize tax liability while a person is still alive.