If you are starting to build an estate plan, you may not yet have decided if you want to have a trust. If you are considering a living revocable trust, then there are some things that you might want to know before you decide.

Here are three things to consider if you may want a living revocable trust. If you decide that they’re right for you, your attorney can help you set one up.

1. Trusts have increased Federal Deposit Insurance Corporation (FDIC) protection

The FDIC typically offers federal insurance to trusts. Each named beneficiary on a trust adds an additional $250,000 in protection. If you add five beneficiaries, the protection maxes out at $1.25 million. So, if you have that amount of assets to pass on, protect them in a federally insured trust with the same or higher value of insurance protection.

2. Your trust doesn’t replace a will

While wills are not necessarily as good as trusts, trusts don’t replace them completely. A will is necessary if you want to name guardians for minors, and it lets you talk about what you want to see happen after your death. Trusts protect your assets and distribute them as you wish, but they don’t perform other necessary actions.

3. Trustee fees may be lower than executor fees

Sometimes, trusts cost less in the long term when you consider the expense of a professional executor. While trusts cost more to create, the real savings may come later with a trustee who charges less to take care of the trust.

These are three things to know about living revocable trusts. If you think they’re right for you, your attorney can help you build one.