A trust is a legal arrangement where one person or entity (the trustee) manages certain property or assets for the benefit of another person (the beneficiary) who actually owns legal title to the property or assets. Upon the death of the person who created the trust, the trust property is not subject to probate proceedings (the proceedings to determine the disposition of a deceased person’s property at death), but passes according to the trust provisions as set up by the creator of the trust. Therefore, trusts are often used as replacements or supplements to a will in order to avoid the probate process, as well as lessen taxation. Trusts can have important estate tax, governmental assistance, probate and personal consequences, and should be drafted in coordination with a person’s will. Trusts are useful estate planning options for persons with significant assets and/or persons who have young children or family members with special needs.

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