An estate plan can help transfer wealth, fulfill philanthropic goals, minimize wealth transfer taxes, maintain privacy, protect assets and provide ongoing management of your affairs if you no longer want or are unable to manage them.
Trusts can be used to avoid paying undue taxes, to hold money for those you designate for long periods of time (even forever) and for containing an extravagant beneficiary until they mature and can handle a large inheritance wisely. Whatever your reason for using them, they are excellent tools for creating a smart estate plan. Trusts are helpful for those with large estates, however, they can also serve those with medium assets as well. If you feel that trusts may benefit you and your estate, learn more about the subject.