A trust is used to distribute property or provide for a loved one after you have passed away. A trust allows you to set out rules like how, what, when and where property will be given to your beneficiaries. There are many different kinds of trusts. Trusts are a useful planning tool to reduce estate tax liability, protect property, and avoid probate. However, trusts are more complex than wills and are not necessary for everyone. Here is a good article outlining the pros and cons of living trusts: http://www.elderlawanswers.com/resources/article.asp?id=1110§ion=4