This article is intended for educational purposes only and is not legal advice. For guidance on your personal situation, please contact a lawyer.

No matter how much money you earn or how much you're able to save, you may have the goal of leaving an inheritance behind to your loved ones, whether it's grown children, grandchildren, or other people who are important in your life. And to that end, it helps to have a plan.

Many people are familiar with the concept of writing a will and using it to spell out their last wishes. By contrast, you may not be as familiar with a living trust. But it pays to consider one for these benefits.

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Source Fool.com