The Powerful Estate Planning Tool You Probably Aren't Using

When most people think of estate planning, they think of a will. But there’s another tool that often goes overlooked—and it can offer far more flexibility, protection, and peace of mind: the trust. Whether you’re looking to avoid probate, plan for incapacity, preserve privacy, or even prepare for Medicaid, a trust might be exactly what your estate plan is missing.

What Is a Trust?

A trust is a legal structure that holds and manages your assets during your life and after your death. There are many types of trusts, but most people start with a revocable living trust. This kind of trust allows you to maintain full control of your assets while you're alive and well, then pass them to your loved ones without the delays and costs of probate when you pass away. Unlike a will, a trust can also function while you're living—which makes it a powerful tool if you ever become incapacitated.

Why Use a Trust?

Here are just a few reasons why trusts are one of the most effective and flexible estate planning strategies:

1. Avoid Probate

Assets held in a trust don’t go through probate. That means no court, no waiting, no public filings, and often significant savings in time and money for your loved ones.

2. Plan for Incapacity

If you become unable to manage your own affairs, your successor trustee can immediately step in and handle your financial matters—without the need for a court-appointed guardian. This provides a seamless transition and helps your family avoid expensive legal proceedings.

3. Maintain Privacy

Probate is public. A will becomes part of the court record. A trust does not. If you value discretion—whether it’s about your assets, beneficiaries, or family dynamics—a trust helps keep your affairs private.

4. Support Medicaid Planning (If You’re Married)

Revocable living trusts don’t protect assets from Medicaid if you’re single, but if you're married, strategic use of a trust (paired with other tools) can help maximize your spousal protected resource amount and give you more options if long-term care becomes necessary.

Not Just for the Wealthy

One of the biggest misconceptions about trusts is that they’re only for the rich. That’s simply not true. Trusts are for anyone who wants to make things easier for their family, protect their privacy, and plan ahead. If you own a home or have accounts you want to stay out of court, a trust might be the smartest move you can make.

Start with Trusted Guidance

While trusts are great tools, they are not for everyone. You need a personalized estate plan that meet your specific needs and goals. Ruth-Ann Toups is Board Certified in Estate Planning & Probate Law by the Texas Board of Legal Specialization and she is a Certified Elder Law Attorney by the National Elder Law Foundation. That means you’re getting expert-level legal planning—and not just a one-size-fits-all template. Let’s talk about whether a trust makes sense for you.