The greatest benefits of establishing a trust for your children is knowing that the funds will be available for your children. Another benefit is that assets held in trust are protected from legal claims. Other than retirement savings, any assets you own are subject to seizure by courts and creditors. But if you place your assets in a trust, they will be legally protected.
This will be crucial if you have targeted savings or investment accounts for your children and you end up having to file for bankruptcy or you are found liable in a civil lawsuit. If you put your children’s assets in a trust, the funds will be protected and it will be there when they need it.