There are many types of Trusts. Most are designed to care for minor children or children with special needs. Trusts can also be used to control when children receive their inheritance. Without a Trust in most cases, children will receive their entire inheritance when they are 18 years old. If there is any size to the inheritance, that is probably not a good idea. A rust can give the children income from the trust and dole out incremental portions of the estate over time as the children get older and are more mature. Trusts can also be used to limit estate taxed in a wide variety of ways. Trusts can be a very useful tool in many estate plans.
Some answers to your questions about Wills and Trusts: