Trusts are like life insurance. It's not about when you're old and your kids are all grown up and self-reliant. The point of the trust is when you have younger kids and need to plan for you and your significant other both dying unexpectedly. It's no use naming your 8 year old as a beneficiary because they won't be able to use any of the assets without trusted adults.
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Trusts are like life insurance. It's not about when you're old and your kids are all grown up and self-reliant. The point of the trust is when you have younger kids and need to plan for you and your significant other both dying unexpectedly. It's no use naming your 8 year old as a beneficiary because they won't be able to use any of the assets without trusted adults.
This is a good use of a trust, but not what the article is about.