A trust is a written legal document that accomplishes many of the same goals as a Last Will and Testament. In a trust, you appoint an individual called a “trustee” to be in charge of managing your assets and distributing your assets to the beneficiaries you have specified. However, a trust allows your trust assets to be distributed without having to involve a probate court. The matter remains private between the trustee and the beneficiaries and no public record is created. There are many different types of trusts. Certain types of trusts provide asset protection which is necessary if you have future creditors or if you are applying for Medicaid to cover health care costs.