Types Of Trusts: Which Is Right For Your Estate Plan? (2026)

Sarah Edwards

Contributor

Reviewed By Adam Ramirez, J.D.

Editor

April 30, 2026 Read in 2 mins

Summary

A trust is a legal entity that "holds" assets
It may help you avoid the probate process
Living trusts and other revocable trusts can be revised if needed

Some estate plans are much more complex than others. However, you don't need to have millions of dollars in assets to benefit from a trust.

A trust can help you more effectively manage your assets while you're alive, and it also may help the executor of your estate distribute them after your death. Here's a look at a few common types of trusts and how to determine which may be right for you.

Common Types of Trusts

If you think you might benefit from adding a trust to your estate plan, these are a few options to consider. This isn't an exhaustive list, but it includes some of the most common and versatile trust options.

Living Trust

A living trust is a type of revocable trust, meaning you can change or dissolve it after you create it. The main purpose of a living trust is to keep your assets out of probate.

If you die with a will (but no trust), the will must go through a legal process called "probate." The court must determine whether the will is valid, and the whole process is a matter of public record. Probate can also be expensive and time-consuming, and it can add more stress when your loved ones are grieving.

If you transfer your assets to a living trust before death, they can bypass probate and be distributed to your loved ones much more quickly. We can help you create a fully customized living trust today.

Joint Living Trust

If you're married and you and your spouse both want to avoid probate, creating a joint living trust makes more sense than creating two separate trusts. You and your spouse serve as co-trustees, meaning you both control and manage the assets in the trust.

Build your estate plan by creating a joint living trust with your spouse today.

Living Trust Certificate

A certificate of trust is essentially an abbreviated version of your full trust document. It's usually used to show banks, financial institutions and other relevant parties that a trust has been created.

Once you've created your living trust, you may need a living trust certificate to prove that your assets have been transferred into the trust. We make it easy to generate your living trust certificate.

Choosing the Right Kind of Trust

There are many types of trusts, and in some cases, it makes sense to include more than one in your estate plan. Setting up trusts can be more complex than it seems, but having the right legal documents can put you on the right path.