WHAT IS THE BEST TRUST FOR ESTATE PLANNING?
Trusts are powerful, but there is no "one-size-fits-all" answer. The best fit depends on whether you want to avoid probate, protect a business, or minimize taxes. Franklin attorney Trent Linville breaks down the four most common types for Tennessee families.
4 TYPES OF TRUSTS TO CONSIDER:
Revocable Living Trust: The "gold standard." You keep total control and can change it anytime. Its main job is to avoid probate, ensuring assets pass to heirs privately without a 9–12 month court delay.
Irrevocable Trust: This is permanent. You give up ownership to potentially reduce estate taxes or protect assets from creditors and long-term care costs.
Credit Shelter (Bypass) Trust: For married couples. When the first spouse passes, assets move into the trust rather than to the survivor, keeping those assets out of the survivor’s taxable estate.
Irrevocable Life Insurance Trust (ILIT): A specialized "bucket" for life insurance. It ensures the payout is distributed exactly how you want—often tax-free—and keeps proceeds out of your taxable estate.
WHY PROFESSIONAL DESIGN MATTERS
A trust is only as good as its strategy. Choosing the wrong type or failing to "fund" it (retitling your assets) can lead to the very court battles and taxes you were trying to avoid.
"Trent chose estate planning as a way to help the members of his community best protect their loved ones."
FIND YOUR BEST FIT IN 2026
Don't guess with your family's future.
