Think of trusts as a set-aside for a specific purpose. You may want to establish funds for the future care of a disabled child or the education of a child or grandchild. Trusts can also be used to support your favorite charity or assist with Medicaid eligibility. Establishing a trust for blended families can help avoid family conflict. There are several trusts available that may fit into your broader financial or estate planning goals:
- Special needs trust
- Irrevocable trust
- Revocable trust
- Testamentary trust
- Charitable trust
- Education trust
- Pet Trust
