With the failure of Congressional Republicans to repeal and replace the Affordable Care Act, tax reform is now thrust to the front of the line as the White House and Congressional Republicans look for their first major legislative policy win.

Because a will only goes into effect after you die, it doesn’t provide any direction for your family if you become seriously ill or disabled during your lifetime. However, just as an advanced directive can provide guidelines for those who make decisions about your medical care, a trust can provide direction for the person who manages your financial assets if you are unable to.