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I believe that the major advantage is to facilitate the transfer of assets upon death with out going through probate court and the costs associated with that legal process. A trust can also facilitate the transfer of assets from the first spouse to die and eventually to children upon the death of the second spouse.
There are frequently seminars and workshops given on the subject through adult education, community colleges, and various other sources which are quite helpful in understanding the process. It is frequently part of retirement seminars. Be careful, however, in that many of the workshops are presented by people or firms that are soliciting business to set up the trust.

Bob
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