Whether it makes sense to establish a trust depends on your individual circumstances. Some common reasons for setting up a trust include:

• To provide for minor children or family members who lack financial experience or who are unable to manage their assets
• To provide for management of your assets should you become unable to oversee them yourself
• To avoid probate and transfer your assets immediately to your beneficiaries upon death
• To reduce estate taxes or provide liquid assets to help pay for them.

Keep in mind that you may not need to establish a trust to accomplish these and other financial goals. A well-written will may distribute your assets appropriately. Check with a lawyer before deciding if a trust is right for you.