Trusts have become a popular estate planning tool. Learn about living trusts and other types here.

Trusts used to be just for wealthy families, but not anymore. In the last couple of decades, many thousands of ordinary folks have created trusts, especially simple "living trusts," which function as will substitutes. Their big advantage is that after death, property held in trust can be transferred to inheritors without probate court. That saves family members lots of delay, expense, and hassle.

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