A Trust is a document primarily used in Estate Planning.  There are many different types of Trusts and they are used for a variety of purposes.  A Trust can be useful to avoid probate, as well as to provide for specific terms for the distribution of assets to beneficiaries at your death.  Trusts are also utilized for Estate Tax Planning, and for Medicaid and other asset protection purposes.  A Trust can be revocable, which means you retain the right to change any part of the Trust, or revoke it in its entirety, or can be irrevocable.  Irrevocable Trusts are very limited in what can be changed, modified or revised after they are signed.