A(n) ________ is a trust established to transfer assets to your children, while allowing the surviving spouse access to funds in the trust, if necessary- Trust assets are distributed to the children tax free upon the death of the surviving spouse.

What is Estate Planning?
Estate planning is the process of designating who will receive your assets in the event of your death or incapacitation.

Estate planning vs Living will:
Basically, an estate plan is a broader plan of action for your assets that may apply during your life as well as after your death. A will, on the other hand, dictates where your assets will go after you die, who will be the guardian of your children and more.