Trusts can be an efficient way to provide a financial legacy to the people and causes you care about. Plus, there are other benefits you may not have considered, according to Bank of America.

Many people assume that trusts are only for the very wealthy. That is not the case. “Trusts are tools that give you very specific control over how your wealth is used and protected, no matter how much money you have,” says Kevin Hindman, managing director of Retirement & Personal Wealth Solutions at Bank of America.

Broadly speaking, you can think of a trust as a sort of container that holds your assets — from investments and real estate to even a private business. With the help of a lawyer, accountant and financial advisor, you establish the rules for what happens to the assets in your trust and wh

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