Estate Planning Series
Estate · Trust Types
Six Types of Trusts —
Which Job Does Each Do?
"Trust" isn't one thing. There are dozens of variations, but most situations are solved by one of six core trust types. Each does a specific job. Mixing them is common.
Typical trust settlement time
Compared to 12-18 months for probate. The right trust for your situation skips court entirely and gets assets to your family in weeks instead of years.
Revocable Living Trust
The standard probate-avoidance tool. You keep control while alive.
Key points
Best for
Homeowners and middle-class families avoiding probate
Irrevocable Trust
Can't be changed once created — but provides asset protection + tax benefits.
Key points
Best for
Asset protection, high-net-worth tax planning, long-term care planning
Special Needs Trust
Provides for a disabled beneficiary without disqualifying them from SSI / Medicaid.
Key points
Best for
Families with a disabled child or relative
Charitable Trust
Lets you give to charity while receiving income or tax benefits during life.
Key points
Best for
High-net-worth donors wanting tax-efficient charitable giving
Spendthrift Trust
Protects beneficiaries from their own spending — or from creditors.
Key points
Best for
Heirs with addiction issues, gambling problems, or active lawsuits
Asset Protection Trust
Aggressive irrevocable structure designed to shield assets from creditors.
Key points
Best for
Doctors, business owners, and high-liability professionals
Not sure which trust you need?
We'll listen to your situation, ask about your goals, and tell you which trust (or combination) fits — and which ones don't.
Keep Reading
More in Estate Planning
Sources
NAEPC · American Bar Association
Educational content only. Not legal or financial advice. Trust law varies by state. Consult a licensed attorney for your specific situation.