A trust can be used to sidestep the probate process by transferring ownership of your property into a legal entity while you’re still alive. You control the trust. The trust has the authority to use, distribute, or manage the property according to your wishes, and can serve many of the functions of a will. This is an extremely flexible tool that makes it easier for your loved ones to take care of your final affairs. Trusts can also be created by your will, for protection of young children, or other special circumstances. Trusts are also used for high net worth families to reduce taxes and manage assets.