A trust is similar to a will as it creates rules and destinations for your estate. A trust involves you giving all of your assets to the "trust" so that you no longer own them. However, you can manage the trust and instruct it to pay out as if you still owned it. A trust can be more advantageous than a will, because when you die your estate will not have to go through probate (the courts) or be siphoned off by lawyers and taxes. There are many different kinds of trusts, so do the research and decide which will best suit your plans.