There are many kinds of trusts. A Revocable Living Trust allows the trustee (typically you, initially) to manage the trust assets before and after your death. It helps your estate avoid probate, and the expenses that accompany it. It also may help your estate save money from inheritance tax after death.
The determination of whether to use a Revocable Living Trust or a will, as an estate-planning device, must be decided on a case-by-case basis. A revocable living trust allows greater privacy and confidentiality regarding an individual's assets and financial affairs after death. A person may modify or terminate a Revocable Living Trust during their lifetime, as long as they are not incapacitated.