Benefits of family trusts include avoiding the probate process, protection from legal challenges and avoiding a conservatorship, says Nolo. The different types of trusts a person can set up include revocable trusts, irre... More » Business & Finance Financial Planning

A family trust is an allocation of funds or assets made to the beneficiaries with some conditions attached, according to, the U.S. government's official web portal. The family trust is managed by the trustee who ... More »

People can set up a family trust by reviewing the types of trusts, choosing a trustee and beneficiaries and meeting with a qualified attorney and tax adviser to complete the legal document, state and More » Business & Finance Financial Planning

Differences between wills and revocable trusts involve the necessity of probate, privacy, protection from challenges in court, avoiding conservatorship and the transference of property, reports Nolo. Wills but not trusts... More » Government & Politics Law

Nolo, FreeAdvice and LegalZoom are some companies that offer free online information about wills and trusts. Login options are available from some of the company websites, but membership is not necessary to view the info... More » Business & Finance Financial Planning

Qualified income trusts are special-purpose trusts for Medicaid applicants who do not meet the income requirements for Medicaid due to excessive income, but do not have sufficient financial capability to manage long-term... More » Business & Finance Financial Planning

Donors create charitable remainder trusts or charitable lead trusts by having lawyers draw up trust documents specifying the length of the trust and the disposition of trust income, reports Nolo. They then transfer asset... More » Business & Finance Financial Planning