What is one key benefit of using a trust in estate planning?

Using a trust in estate planning offers a significant benefit by providing a mechanism for controlled distribution of assets. This means that the grantor can specify how and when assets are distributed to beneficiaries, which is particularly useful in situations where beneficiaries may not be financially responsible or are minors. By establishing specific conditions, the trust can safeguard assets until beneficiaries reach a certain age or meet other stipulated criteria, ensuring that the grantor’s intentions are honored.

This aspect of trusts allows for tailored financial management and helps in avoiding potential conflicts among heirs. It can also protect assets from creditors or ensure that they are used for specific purposes, such as education, healthcare, or other significant life events. Such features add a layer of strategic planning to the estate, aligning distribution with the grantor’s long-term goals for their heirs.