Trusts provide many significant advantages, both to the creator of the trust as well as to designated beneficiaries who a trust was created in order to provide for. Trusts can help to protect assets in case of incapacity, for example.
One of the biggest benefits to the creation of a trust, however, is the fact that the trust can allow assets to transfer outside of the probate process. Normally the probate process would have to occur after a death and would have to conclude before property is transferred to new owners. This probate process could take many months, leaving heirs without assets they may be counting on. The trust administration process is a much faster, less costly and more streamlined method of transferring property to new owners. When assets are able to pass through trust administration, the probate court does not have to become involved unless there is some type of problem, and the transfer of assets can be both more private and much faster.