Although some people may see the use of joint ownership, transfer on death, or pay on death accounts as ways to handle gifts, we believe a trust is the better option. Using non-probate forms of ownership can result in problems for the children. A trust prevents one child from spending or liquidating the asset. It also keeps the assets together rather than trying to equally divide the assets between children. A trust allows all children to see the reports and monitor the trust. It also protects the assets from claims by the children’s spouses and/or creditors.