Maybe you are not certain if you need a trust. That answer can only be reached after some soul-searching with analysis of what you have accumulated in life and who you want to benefit from your largesse. In your thirties you may not have yet put a great deal away in the bank, but you may have bought your first home and have an active savings plan going. Some major life events might happen, such as marriage, birth of children, perhaps inheriting property or other assets. Your responsibilities and assets begin to expand. In another ten years your home and investments will hopefully have appreciated in value.

Now is a time to ask yourself a few questions that may lead to the decision to create a trust:

• Will you want your estate to avoid probate?

• What are the specific goals you have for the disbursement of your assets?

• Do you want to keep assets in your family line protected from divorce?

• Do you have minor children? Do you wish to provide for education?

• Are there children from a prior marriage you want to provide for?

• If married, will your estate — including all property, investments, and cash — exceed $2,000,000 at the time of your death?

• Are there any family members with special needs you are responsible for who will require extra care?

The bottom line is that as you move through the phases of life where big changes occur, you may discover the value of establishing a trust. Marriage, divorce, moving to a new state, and getting closer to retirement are among the transitions that could signal a time for trust planning. Things outside your control may be important factors, too, such as changes in tax laws, or the loss of the person you had named to be the executor of your estate, either through death or becoming incapacitated.