Estate planning is the process of anticipating and arranging for the disposal of an estate during a person's life.
For some individuals, a trust may achieve their estate planning goals more effectively than a will. A trust is a legal arrangement where one person (the settlor) transfers a property interest to another person or corporation (the trustee) to be held for the benefit of the settlor or others (the beneficiaries). A trust is a remarkably flexible tool and can be crafted to meet specific goals or as a general means of passing on property. As such, trusts must be tailored to the client’s needs. Two examples of popular trusts are Living Trusts (revocableinter vivos trusts) and NFA trusts (gun trusts).