Janet Xuccoa: What's the point of a trust?

Trusts are hardly mentioned outside of when wealth tax is in the news, or when someone mentions their accountant told them to get one. One side of the political aisle seems to have a good list of reasons as to why someone would need a trust, while the other side seems to be convinced that essentially the only reason anyone would have one would be to hide assets.  So what is the real purpose of a trust?  LISTEN ABOVESee omnystudio.com/listener for privacy information.