Understanding Trusts: Are They Right for Your Family?

 Posted on July 15, 2025 in Estate Planning / Probate

Planning for the future is not always easy, especially when it involves decisions about how to protect your family and everything you have worked hard to build. For many, one of the biggest questions is whether setting up a trust makes sense for their situation. 

While a trust can help avoid probate, maintain privacy, and provide clear instructions for managing your assets, it is not the right solution for everyone. Working with a DuPage County, IL estate planning attorney can give you the clarity you need to decide if a trust aligns with your family’s needs and long-term goals.

What Is a Trust and How Does It Work?

A trust is a legal tool that allows one person, called the trustee, to hold and manage property for the benefit of others, known as beneficiaries. The person who creates the trust is referred to as the grantor. Unlike a will, a trust goes into effect while you are still living and may allow your family to avoid the probate process after your death.

Under Article 8 of the Illinois Uniform Trust Code (760 ILCS 3), trustees have specific duties to act in the best interests of beneficiaries. This law ensures trustees manage the assets responsibly and in accordance with the grantor’s instructions.

Why Might a Family Choose a Trust?

Families often turn to trusts because they can simplify asset distribution and provide more control over how property is managed. A trust can allow you to plan for minor children or family members with special needs by ensuring someone you trust oversees the funds. Because a trust does not go through the probate process, it allows your family to avoid the public disclosure that often comes with a will.

Another key advantage is that trusts can help manage your assets if you become incapacitated. Without a trust, your family may need to go to court to have a guardian appointed to handle your financial affairs.

What Types of Trusts Are Available?

Depending on your needs, there are several types of trusts to choose from. Revocable living trusts are popular because they allow the grantor to maintain control over the assets and make changes during his or her lifetime. 

On the other hand, irrevocable trusts transfer ownership of assets out of the grantor’s name and into the trust itself. This means the trust, not the grantor, becomes the legal owner of the property, and the trustee manages it for the benefit of the named beneficiaries. Because of this shift in ownership, irrevocable trusts are often used for tax planning or to protect assets from creditors.

Each type of trust serves a different purpose, and an attorney can explain which option makes the most sense for your family’s situation.

Is a Trust Always Better Than a Will?

While a trust offers advantages like avoiding probate and maintaining privacy, others find a will is sufficient for their estate planning needs. Even if you create a trust, you may still need a simple will in Illinois to cover assets not included in the trust. The right approach depends on your estate size, your family’s needs, and your long-term goals.

Contact a Kane County, IL Trust Attorney

If you are considering whether a trust is the right choice for your family, a Geneva, IL estate planning lawyer at DLAW, PC can help. As a solo practitioner, Attorney Deanna Aguinaga Walker will guide you through your options and design a plan to protect your loved ones and your legacy. Call 331-222-7978 today to schedule a free consultation.