A trust is a legal document that helps protect your assets. You can have a trust and a will work together for extra financial security or to make sure your beneficiaries do get what they're owed.
A living trust is a useful tool when you are creating an estate plan. It is imperative to know that these trusts aren't appropriate for everyone in every situation. If you are considering a living trust, you should think carefully about it because there are some instances in which this option might not be worth the time or effort.