Wise estate planning with well-drawn wills and the right kind of trusts can make a huge difference to your family’s long-term financial stability. Browse Investopedia’s expert-written library ...

A family trust is a trust that benefits the children, grandchildren, siblings, spouse or other family members of the person establishing the trust (the "grantor”).

A living trust is a legal arrangement that you can use to help transfer property to loved ones and protect assets in case of incapacity. Learn more here.

A spendthrift trust lets a beneficiary receive certain assets only if they meet specific conditions. This helps beneficiaries avoid squandering an inheritance.