The most familiar estate planning document is the will. It is a necessary component, and it may be sufficient for people who have limited assets. However, for those who have more valuable or complex estates, or who simply want to maintain more control over them, trusts may be more beneficial.
Estate planning can be a confusing and intimidating subject. While you may be aware that you should have an estate plan in place at some point, you may not exactly know when to draft such a plan. The truth is that every adult should have an estate plan.