Use of Trusts isn’t new.

A study of wills in the old south revealed that nearly 40% contained trusts. Trusts are neither a new nor an exotic estate planning tool! Testamentary trusts (trusts set up within a will) provide that assets distributed after death may be held in trust for certain purposes. Living trusts (trusts set up during a person’s lifetime) provide the additional benefit over testamentary trusts of including provisions to deal with issues that may arise during a person’s lifetime such as detailed disability planning provisions. To read more about the study click here: http://www.thefacultylounge.org/2009/08/the-new-technologies-of-the-antebellum-era-steam-and-trust.html.