Trusts have always been an important part of estate planning, but they have become even more popular in recent years, especially with the baby boomer generation. The popularity of trusts is also growing among people 55 and younger. As more people learn about the benefits of trusts, it is becoming more common for individuals to plan for their families, boost their saving potential and reduce taxes. A trust is an arrangement whereby one individual (the grantor) gives control over property to another person (the trustee). The trustee then manages the property according to instructions from the grantor or the beneficiaries. At Chesapeake Wills & Trusts, we create all types of trusts. Testamentary trusts are created after your death and disbursements from this type of trust are based on the terms of your last will, or parol evidence. A testamentary trust is often created in conjunction with a will from our office to ensure your wishes are met as the executor and trustee.