Trusts are estate planning tools that can replace or supplement wills, as well as help manage property during life. Similar to a will, a trust manages the distribution of a person's property by transferring its benefits and obligations to different people. Unlike a will, however, assets subject to a trust can transfer without probate. This allows one to leave a larger inheritance.

A trust is also a way to provide a steady income to the Beneficiary over the course of time, rather than distribution in a lump sum. This strategy can reduce the Beneficiary's tax and allow the trust to grow through investment, and keep assets free from creditors of the trust beneficiary. Trusts can also be established for the benefit of charitable organizations.