The living trust is a method to avoid probate, guardianships, and court process. Trusts are utilized to instruct your heirs in the use of their inheritance to secure their future. In addition, trusts also have estate tax advantages to pass more tax-free money to their beneficiaries. Your trustee will be able to control the assets in a trust and name a successor to manage the trust in the future. A living trust is also known as a revocable trust that can be amended or revoked. A trust can also provide for a continuity of management during an incapacitation or disability. There is also an option for an irrevocable trust if you do not want a trust amended at point in time.