You do not need to know everything about trusts in order to get the right one. You just have to know as much as possible about your situation.
These are personal instruments. They should fit your precise circumstances. The good news is that the field narrows considerably once you know exactly what you want to do.
Establishing some goals
A trust might help you protect your legacy from mismanagement or creditor interest. It might allow you to retain control of your wealth in a tax-advantaged way. However, it is unlikely that a single type of trust can do everything for you. Luckily, there are many different varieties.
Highly protective trusts require you to give up more control. Conversely, those that allow you to benefit directly do not provide much protection from outside interest, in many cases. Your priorities are important.
Forming the instrument
After you decide what you want to happen, the next step is putting it into action. This would involve choosing the type of trust, adding any specific clauses you need and selecting the people who will benefit from it and manage it. Knowledge, organization and communication all help in this endeavor.
Maintaining the trust
Once you have a foundation, upkeep is important. The people involved need to maintain high ethical standards. If you still have significant decision-making capabilities, then you might also want to keep abreast of any changes in the law that could indicate do you need to make a change.
Depending on your situation, trusts alone might not be the best way to achieve your goals. You might find it advantageous to form a business or give lifetime gifts, for example. Our office has helped many clients pull together all of these strategies to form effective, efficient solutions.