The two work in very similar ways, however a trust is much more likely to hold up against others attempt to contest its wishes. There are a variety of trusts available to fit your specific types of accounts and net asset value.
If there are individuals who are financially dependent on you, the sooner you begin thinking about estate planning the better. The more assets you accumulate and the longer you delay, the more costly it will be to set up the necessary structures. In addition, the larger your net wealth, the more clearly estate planning structures become of quantifiable value.
This depends entirely upon nationality, country of residence, domicile of assets, and many other factors. We are able to advise you on this planning issues, so please contact us directly to discuss your requirements in more detail.