Overview of Estate Planning and Trusts

Estate planning involves making decisions about healthcare, financial, and legal matters, ensuring that your assets are distributed according to your wishes after your passing. A living trust, specifically a revocable living trust, is the most popular type of trust. It is created during your lifetime and allows you to transfer assets into the trust, providing flexibility and control. This type of trust helps avoid the probate process and allows for specific distribution instructions. Another common type of trust is a testamentary trust, which is created within a will and only takes effect upon the individual's passing.