Living Trusts can help your estate avoid probate and prevent your financial information from going public. A Living Trust directs who is in charge of your estate and what happens to your property when you die or should you become incapacitated; it also may take effect while you are living.
When you put assets such as real estate and investments into a Living Trust, the asset will need to have the name of the Trust added to the title. For instances, you might create a “Spendthrift Trust” for spend-happy beneficiaries or setting up education trusts for minor children. Also, a Living Trust can provide asset protection for single individuals who are able to marry. This is a good vehicle in conjunction with a pre-marital agreement.