Considering A Trust – Should I Consider A Trust?

2026 · SHOULD I CONSIDER A TRUST?
Is one of your estate planning goals to keep your affairs private, prevent contestation, or help your beneficiaries avoid the costs and potentially lengthy process of probate?Consider using a revocable living trust to avoid guardianship proceedings over the assets and provide guidance to the guardian/trustee as to how you want the assets to be handled on behalf of your minor children.Consider using a revocable living trust to consolidate and organize your estate plan, and to help ensure your assets remain private and avoid probate.Consider using a special needs trust (SNT) to continue providing financial aid to your child without disrupting their eligibility for government benefits (e.g., Medicaid, SSI, etc.).Consider setting up a trust with spendthrift provisions (e.g., tiered access at specific ages, withdrawal limitations and stipulations, etc.) to help safeguard your trust’s assets from your beneficiaries’ potentially destructive financial decisions.Consider exploring irrevocable trust provisions that remove assets (and the future appreciation of their value) from your taxable estate (e.g., ILIT, SLAT, GRT, IDGT, credit shelter trusts, etc.).Consider using an “A/B” split trust or qualified terminable interest property trust (QTIP) to continue providing financial support to your spouse when you’re gone, but also ensure you still have control over which beneficiaries ultimately inherit your assets. Do you have minor children?Is your gross estate potentially at risk of being subject to estate taxes?Do you have a dependent with special needs?Could you achieve these goals entirely through the use of proper beneficiary designations (e.g., primary, contingent, etc.), ownership structures (e.g., JTWROS, etc.), and titling of assets (e.g., TOD, POD, etc.)?Do any of your beneficiaries struggle with serious financial issues or financial irresponsibility (e.g., spending problems, gambling addiction, financial illiteracy, etc.)?Do you have a blended family (e.g., 2nd marriages, children from a prior marriage, step-children, in-laws, etc.), and are you concerned about conflicting priorities and interests among who inherits your assets? Be mindful that most trusts (i.e., revocable and irrevocable living trusts) need to be funded and maintained (while alive) in order to ensure they achieve your desired outcomes. If you prefer to not fund and maintain a trust while alive, you could consider using a testamentary trust (i.e., created via your will upon your death). Be mindful that testamentary trusts do go through probate, and not all types of trusts can be formed as a testamentary trust.YesNoYesNoNoYesNoYesNoYesNoYesNoYesSTART HERE
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