A trust is primarily a vehicle for managing one's assets and sheltering them from taxes to the greatest degree possible under the law. Trusts can become operational prior to death, and thus can provide some tax benefits for the estate over the long term. A common type of trust is a family trust, in which parents create a trust in which they are trustees, and both they and their children are the beneficiaries. As a result of the structure of a family trust, the parents can continue to use income from the trust as needed, as well as for children as needed, by doing so in the most beneficial way for all parties involved, in terms of paying taxes.