Some examples include providing a regular income to a spouse, specifying care for a child with special needs, managing assets for minors until they reach a certain age, and even paying for a beneficiary's education as long as a certain grade point average is maintained. Potential tax savings are another reason why trusts are often used in estate planning. The probate court oversees the valuation of these assets, and pays your creditors and any taxes out of the proceeds of your estate. The probate process is designed to protect your interests. However, it can be lengthy and complex, tying up assets and delaying distribution to those you wish to have them.
Most experts recommend estate planning strategies to avoid the probate process.