If you have a large estate (over a $1M) then a will that incorporates a trust is the basic way to minimize the impact of local and federal estate taxes (remember the "death tax" isn't completely dead and has a "ressurection" clause) in the future. The great thing about a trust is that the money can continue to provide a managed benefit over a very long time, the legal time limit being "a life in being at the time of death, plus 21 years."