Final answer:
A trust is an estate planning tool that helps transfer assets to heirs outside of probate court.
Step-by-step explanation:
A trust is an estate planning tool created to facilitate the transfer of one's assets to their heirs in a private manner, outside of probate court. It can be thought of as "the family bank". Upon death, an executor (normally an attorney) and the trustee(s) (normally heirs) work together to execute the transfer of assets within the trust in accordance to the terms set forth by the deceased. Most commonly upon death, the instructions and assets of the trust become irrevocable.