Extension Office News: Living Trusts as An Estate Planning Tool

Trusts gained more attention during the COVID-19 pandemic as a tool to manage financial affairs, according to Montana State University Extension educators. But a trust may not be the right choice for everyone. Individuals should learn the pros and cons of the distinct types of trusts available, said Marsha Goetting, MSU Extension family economics specialist.

In Montana, the person who provides property and creates a trust is a “settlor,” also referred to as a grantor, donor, or trustor. The trustee is the individual, institution or organization that holds legal title to the trust pro...